Tag Archives: Online auctions

Tapu’s new round

Tapu, an online real estate auction marketplace where we’re investors, announced its new $1.2M funding round earlier this week.

The funding round which was led by existing investor Earlybird also included participation from existing investors Can Yucaoglu and Banu Kucukel.

Tapu has grown the number of online property sales that are completed on its marketplace to over 50 per month. Given the high price and lack of commoditization of these properties, that’s an impressive number.

Together with the new round, Tapu is well positioned to further grow this number by selling a greater number of properties on behalf of its existing partner banks while also attracting the properties of new business partners to its marketplace.

We value the continued support which our co-investors are showing the company and congratulate the Tapu team for their crisp execution and steady growth.

First full calendar year of Tapu

Emre Ersahin is a co-founder of Tapu, an online real estate auction marketplace where we’re investors. Emre recently wrote a post sharing some data about Tapu’s first calendar year of operations. Here are some of the highlights:

  1. Tapu has completed hundreds of property sales in half of Turkey (44 provinces) since it started monetizing in August 2015.
  2. The number of transactions on Tapu is growing at a rate of 70% per quarter.
  3. 40% of transactions on Tapu are completed in less than 15 days.
  4. The fastest sale on Tapu was that of a flat in Antalya which sold in 41 hours.
  5. Half of the auctions on Tapu in December 2016 closed with a premium above the seller’s reserve price, giving sellers a 5% profit.

You can read the full piece here.