Fongogo Achieves Two Different Successes in Two Fields of Crowdfunding

Fongogo is Turkey's leading crowdfunding platform. On the share-based crowdfunding side, LojiPark successfully completed the SOYL-GEL campaigns on the reward-based crowdfunding side. It enabled entrepreneurs to reach the amount of investment they needed. This success of the platform has increased the interest of young entrepreneurs in the crowdfunding method in search of capital. It also paves the way for individuals to invest in startups, even with small numbers.

“Crowdfunding” means that communities come together to provide the financing needed by startups, SMEs or project owners. It is rapidly gaining popularity in Turkey under the leadership of Fongogo. Since 2013, it has provided millions of resources to more than 1,500 projects. Fongogo has successfully completed its LojiPark campaigns in the share-based crowdfunding vertical and SOYL-GEL in the reward-based crowdfunding vertical. Within the scope of the campaigns, $67.163 (1.16 million TL) was provided for LojiPark and $10.130 (175 thousand TL) for SOYL-GEL.

LojiPark continues its efforts to digitize and record the domestic transportation sector and to increase vehicle efficiency. As a result of the campaign it carried out with Fongogo, with the participation of more than 400 investors, it collected $67.163 (1.16 million TL), above the target amount. LojiPark, the capital provided by the campaign; It will be used for software development, interface and design renewal, updates and system integrations.

Also read: Web Application Development Platform Refine Receives $1 Million Investment

Reward-Based Crowdfunding Is Also Active

Fongogo has also completed the SOYL-GEL campaign, which is one of the startups of the WorkupAgri program, which was established by Türkiye İş Bankası under the umbrella of Workup, specifically for agricultural entrepreneurs, which was realized within the scope of reward-based crowdfunding, and which developed a product that reduces the irrigation frequency in agriculture by half. SOYL-GEL, which was established by a group of researchers from Sabancı University to develop high technology for sustainable agriculture, has developed a product that holds 600 times its weight in water and reduces the irrigation water used by half. Within the scope of the campaign with Fongogo, SOYL-GEL will provide a fund of 175 thousand TL, as well as enable women farmers to carry out their production with SOYL-GEL products. It will also encourage women entrepreneurs by pre-purchasing the harvest they will obtain and raise awareness about water consumption.

Continuing to be the lifeblood of startups

Fongogo Co-Founder and CEO Ali Cebi pointed out that startups from many sectors still expect investment.