Deniz Ventures and Rasmal Ventures have jointly invested $7.6m in TeamSec, a Turkey-based AI-powered securitisation platform, to advance the structured finance industry.
Rasmal Ventures is a Doha, Qatar-based venture capital and private equity firm that focuses on investing in high-growth startups and businesses, particularly in emerging markets.
Deniz Ventures is the venture capital fund of DenizBank, established under the Emirates NBD Innovation Fund, the corporate venture capital arm of Emirates NBD Group.
With the $7.6m investment, TeamSec aims to advance its growth operations, focusing on rapid expansion in the Middle East and North Africa (MENA) region.
In addition, the cybersecurity platform intends to diversify its product and service portfolio and enhance current service offerings.
TeamSec founder and CEO Esad Erkam Köroğlu said: “The investment we received from ENBD and Rasmal Ventures demonstrates the trust placed in TeamSec’s vision and technological prowess by these renowned institutions.
“At the same time, this investment round supports our mission to revolutionise the securitisation market, positioning TeamSec as a leader in the fintech sector as well as in the securitisation market, particularly in the MENA region.
“With this investment, we endeavour to strengthen our position as a global game-changer in the field of securitisation.”
TeamSec aims to advance the digital transformation of the financial sector through creating an effective and transparent financial ecosystem by digitising securitisation processes.
Also, the company aims to create critical value for investors and financial institutions, through its AI and data analytics-based solutions.
Both Emirates NBD and Deniz Ventures are set to invest in fintech and technology-driven startups, and digital transformation in the financial sector.
Their investment in TeamSec builds on their previous investments in high-growth startups Erguvan and NewBridge Fintech Solutions in 2023.
Emirates NBD wholesale banking group head Ahmed Al Qassim said: “We recognise the immense potential securitisation holds in supporting regional growth.
“Our recent strategic investment in TeamSec, a fintech innovator specialising in Securitisation-as-a-Service, underscores our commitment to shaping this market and enabling its growth.
“We are the first investor in TeamSec, supporting the founder and team in their growth journey at an early stage.”
