Bulut Arukel has been appointed to the Board of Directors of Colendi, bringing experience from the fintech sector.

Fintek company Colendi has appointed Bulut Arukel, an experienced name in the financial technologies sector, to its Board of Directors.

The Board of Directors of Colendi, one of the fastest-growing fintech companies in the world, has been strengthened with Bulut Arukel, one of the most experienced names in the financial technologies sector. Arukel, who will serve as a Board Member responsible for Commercial Activities, will lead the establishment of a structure that will enable Colendi to meet the financial services needs of companies from every sector more quickly and easily from a single point, supporting the company in gaining a significant competitive advantage while growing its corporate partnerships ecosystem.

The company provides financial services that democratize banking services by bringing together consumers, businesses, and financial institutions, offering its 18 million users quick and easy access to credit through Buy Now Pay Later (BNPL) as well as comprehensive embedded financial services with Colendi Securities and Colendi Insurance. With a $65 million investment received in May, the company’s valuation has reached $700 million, and it is preparing to expand its embedded financial services by adding banking solutions after receiving the establishment license from the Banking Regulation and Supervision Agency (BDDK) for its digital deposit bank, ColendiBank.

Evaluating Bulut Arukel’s appointment to the board, Colendi’s Founding Partner and CEO Bülent Tekmen stated, “With the embedded financial services we provide to Turkey’s largest digital payment platforms, Moneypay and Paycell, we are now opening up to the global market in our fast growth journey so far. In our goal to achieve 20% of our revenues from abroad next year, we are implementing a structure where all businesses served by our main customers can meet all their financial needs, including banking, from a single location. Having Bulut Arukel lead this process, with his deep experience in uniting the entire ecosystem served by fintech service providers at a single point, will create significant value for both our company and all our stakeholders.”

Expressing his excitement about walking this journey with the company team that is progressing towards the goal of serving 1 billion active users and becoming the largest fintech platform to emerge from Turkey, Bulut Arukel said: “Until today, companies had to integrate with different financial solution providers and banks. Instead of these integration processes that have high resource costs, we will implement an innovative structure at Colendi that acts as a single screen for CEOs, CFOs, and management teams of commercial businesses and individual service providers, further advancing the vision that has brought the company to this point.”

Previously, Bulut Arukel managed the growth of various international corporate companies and successful ventures he founded, designing exit processes. He is among the mentors of Endeavor, which operates in more than 40 markets. Arukel is also a member of TÜSİAD and the Women in Technology Association.