After our investment in Postmates in the US, we also completed our investment in Kapgel in Turkey. As an on-demand goods delivery startup, we believe that Kapgel will become the Postmates of Turkey.

We actually met the Kapgel team well before our investment in Postmates. We were first introduced to the company by Kaan Karamanci and Firat Ileri, among the company’s first investors, in October 2014. At the time, the company was serving e-commerce businesses by integrating their checkout pages to the Kapgel delivery network. If an e-commerce customer wanted an order shipped to them within the same day and also happened to live close enough to the company’s warehouse for this to be possible, they could have Kapgel deliver their order. The company had yet to build a consumer facing product where customers can directly place their orders from hundreds of local stores through their smartphone.

Since we believe in the potential for a consumer facing product, we decided to keep in touch and monitor Kapgel’s progress. During this time, the company financed itself with an angel round from Sadok Kohen. Over the next months, under the leadership of founder Cetin Oztoprak,┬áthe team built and launched a great consumer facing iOS app with hundreds of stores available. The Android app is also in the works.

Kapgel is currently serving the European side of Istanbul from Monday through Saturday between the hours of 9AM and 8PM. They’ll be using our investment primarily for customer acquisition which will enable them to increase the liquidity on the platform. This will allow them to also start serving Istanbul’s Asian side while expanding Kapgel’s hours of service.

We believe that Kapgel is uniquely positioned to develop into the leading on-demand goods delivery service in Turkey, and we’re excited to be part of the journey.