Emirates NBD makes strategic investment in Turkish start-up Erguvan

After Erdogan’s crusade to Gulf Arab Nations, hopes of huge loans and FDI flows inundated the press.  So far, there has been very little progress.  However, on the trade side the relationship is blooming rapidly, with exports to UAE and Suadi Arabia soaring, according to industry observers, while some small scale M&A is already underway.

According to al Arabiya, Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has made an investment in Erguvan, a climate and financial technology venture aimed at providing financial institutions and corporations with digital infrastructure, enabling them to manage the impacts and risks of climate change.


The investment was made via Deniz Ventures, an investment fund launched by DenizBank A.S., Turkey under the umbrella of Emirates NBD Innovation Fund, the Corporate Venture Capital arm of Emirates NBD Group. The Group-wide fund was created to enable investments in strategically relevant FinTech, SustainTech, and tech companies and start-ups across Emirates NBD’s key markets, including Turkey.

Emirates NBD Group is an Associate Pathway Partner for the 28th edition of the United Nations Climate Change Conference (COP28), being held in November this year in Dubai, UAE and a key contributor to the UAE’s Sustainability agenda. The Group was among the latest cohort to sign the UAE Climate-Responsible Companies Pledge initiated by the UAE Ministry of Climate Change and Environment, in support of the UAE’s Net Zero 2050 Initiative.


Erguvan was established in 2022 with the objective of driving progress in the field of climate change. In addition to Erguvan Marketplace, Turkey’s first and only environmental commodities marketplace, the company also offers modular carbon footprint management solutions under the Erguvan Climate Action Platform, which integrates through an API-based solution.



Award-winning Turkish design brand, Koleksiyon Mobilya expands into the UAE


According to Zawya, In commemoration of its 50th anniversary, Turkish furniture and upholstery brand Koleksiyon Mobilya opened its first showroom in Dubai this week in the presence of the company’s Chairman, Koray Malhan, Deputy Chairman, Doruk Malhan, Dubai Consul General, Onur Şaylan, and Turkish Ambassador to Abu Dhabi, Tugay Tunçer. Building upon its award-winning success in Turkey, the prominent furniture and upholstery brand plans to expand across the GCC and marked its entry into the region with the showroom launch on Sheikh Zayed Road.


The company’s expansion aligns with Koleksiyon Mobilya’s vision to grow its presence in key markets like Dubai, with a focus to boost its global sales exports to 50 per cent in the next five years.


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Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and www.paraanaliz.com and has contributed to the financial daily Referans and the liberal daily Radikal.