Raising $75 million makes HubX Turkey’s latest unicorn

HubX, Turkish mobile apps and web products startup, secured up to $75 million from Point72 Private Investments at a $1.2 billion pre-money valuation, becoming Turkey’s latest unicorn.  As a bootstrapped startup, this has been the first external funding round of HubX.  

The agreement includes an initial $50 million investment alongside an option for an additional $25 million, vaulting HubX to unicorn status.

Founded in 2022 in Izmir, the company operates a portfolio of over 40 mobile and web products—including apps such as Nova, Wiser, DaVinci, and Lotus Flow—that have generated more than 600 million downloads across 190 countries. HubX currently employs over 370 people across its offices in Izmir and Istanbul.(By the way I have a story here about Turkey’s first unicorn, Peak Games)

HubX plans global expansion

Management plans to allocate the capital toward an international acquisition strategy, acquiring mobile and web products to integrate into HubX’s growth, artificial intelligence, and monetization engine.

“This investment allows us to take that experience one step further,” said Cem Ortabaş, Co-founder at HubX. “We want to continue building great products internally, while also partnering with and acquiring exceptional teams that have built something users genuinely love.”

Co-Founder Kaan Ortabaş added that remaining profitable while reaching scale over the past four years validated the company’s operating platform ahead of its global expansion push.

Let me add that HubX becomes Turkey’s 8th unicorn, together with Loom, Insider, Dream, Getir, Hepsiburada, Trendyol and Peak Games.