HolidayBud/Aykol: We Will Continue to Develop and Grow
Foreks - İş Girişim (IS:ISGSY) Capital Ventures Inc., an affiliate of Türkiye İş Bankası, has increased its stake in TatilBudur, one of Turkey's significant travel platforms, to 64.15% by acquiring a 24.06% share. With this change, TatilBudur aims to further strengthen its position in the industry and continue investing to provide the best service to its guests.
TatilBudur, one of Turkey's important online travel platforms, is starting the new year strong, thanks to İş Girişim Capital's increased share in the company. The process began with a preliminary protocol announced on November 8, 2024, and was completed on December 2, 2024, with the transfer of TatilBudur's 24.06% share for a value of 1 billion 66 million TL to İş Girişim Capital.
The partnership, which started with İş Girişim Capital's investment in TatilBudur in 2015, strengthened through a capital increase in 2020. This investment process has been a significant step in enhancing TatilBudur's operational strength and further bolstering its technological infrastructure. Following the recent transfer of a 24.06% management stake, İş Girişim Capital's share in TatilBudur reached 64.15%.
Kubilay Aykol, General Manager of İş Girişim Capital, emphasized that with the share transfer, İş Girişim Capital, the venture capital investment arm of the Bank, now holds a majority stake in TatilBudur, a key player in the industry, and will continue to actively contribute to the company's development and growth. Aykol also noted that this step aligns with İş Bankası's objectives in prioritized sectors, including tourism.
TatilBudur CEO Onur Otruş expressed excitement about this development, stating that the share transfer presents significant opportunities for steady growth. He said, “For the past 10 years, we have been collaborating with İş Girişim Capital for the brand’s development. We believe that recent developments will provide us with greater leeway within our common goals. As TatilBudur, we expect to close the year with more than 40% growth. This is a significant figure in the industry dynamics. We believe that this change occurring before entering 2025 will provide important opportunities to consolidate our position in the sector, accelerate our growth strategies, and reach a broader customer base.”