Proptech Startup Apsiyon Raises $5M Funding Round

Turkish proptech startup Apsiyon has just raised a $5 million round led by Earlybird VC’s Digital East Fund with participation from angel investor Jak Baruh.

The all-in-one property management software innovators say they will use the new capital to expand internationally in the Middle East and in Europe. The company will also make regional acquisitions after broadening their reach to the UK, Germany, and Spain.

Apsiyon, founded back in 2012 by Kudret Turk (CEO), Erkan Dogan (CPO), and Meric Akdamar (CTO) is a cloud based solution for property managers and building tenants for managing things like rent, reservations, energy use, food delivery, and more. As of 2019, Apsiyon serves close to 3K property managers servicing over 1,5M residents.

We learned today that the name Apsiyon is an abbreviation of “apartman & site yönetimi” in Turkish, which means “building & gated community management.

Designed for upscale mixed-use real estate developments, Apsiyon is reportedly taking aim at expanding services into a comprehensive “life management” brand, a marketplace CPO Erkan Dogan told Tech.eu will feature "integrated services that cover any day-to-day issue." The startup takes pride in its ability to provide personalized solutions on all its platforms spanning the whole property management business cycle, from finance to CRM.

The startup has about 100 employees providing services to customers in Azerbaijan, Cyprus, Macedonia, and Ukraine so far. Apsiyon was named one of the 500 fastest growing companies in the EMEA region by Deloitte Fast 500 2018 EMEA.

This report by Mert Erbil on Medium explains more about the startup's progress and its environment of creativity.