Presented to International Congress of Accountants 2017 in Erzurum, Turkey. The Economist rates accounting as one of the most likely professions to be disrupted by technology and automation. This presentation surveys current software companies and startups that will be shaping the future of accounting, and offers advice on how accountants can continue to add irreplaceable value for clients against this background of change.

1. A Survey of Startups Shaping
the Future of Accounting

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• Affordable subscription, zero upfront investment
• Cloud software for desktop & mobile, works anywhere
• Simple; designed for the business owner, not an accountant
• Powerful integrations (banking, e-invoice, payments, e-commerce)
Paraşüt Overview
Designed specifically for micro & small businesses
CONFIDENTIAL

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What We Do
EXPENSES
PAYROLL
NOTIFICATIONS
ONLINE
PAYMENTS
API for 3RD PARTY
INTEGRATIONS
E-INVOICE
INTEGRATION
ACCOUNTING
INTEGRATION
INTEGRATIONS
WITH BANKS
AUTOMATION
DATA
IMPORT/EXPORT
SHARE INVOICES
OVER EMAIL
REPORTS
MOBILE
GOVERNMENT
BANKS
COMPANY
USING
PARAŞÜT
SALESINVOICES
CUSTOMERS
SUPPLIERS
EMPLOYEES
PURCHASEINVOICES

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Micro
< 10 emp.
Small
10-99 emp.
Medium
100-499 emp.
Large
500+ emp.
3mm
300k
12.3k
1.5k
Market Segments

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Our Investors Our Accomplishments
7000subscribers
CBInsights: Listed in 250 top private companies changing
the face of financial services around the world
TOBB: Top 100 Startups
Second place 2016 & 2017
SaaS startup of the year ‘15-’16,
Most innovative startup ‘14

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Greylock Partners, “The New Moats"

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S Y S T E M S O F R E C O R D

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“At the bottom of the stack of systems, is usually a database
on top of which an application is built. If the data and app
power a critical business function, it becomes a “system of
record.” There are three major systems of record in an
enterprise: your customers, your employees, and your
assets. CRM owns your customers, HCM, owns your
employees, and ERP/Financials owns your assets.”
- Greylock Partners, “The New Moats"

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SaaS in Turkey
Micro & small enterprises are underserved markets for software
SaaS
91%
9%
99% of businesses are micro & small
Micro, <10 Employees
Small, 10-99 Employees
Medium, 100-499
Employees
Large, 500+ Employees
0%
25%
50%
75%
100%
Employment Value Add Sales Exports
SMEs majority of economic output
SME Large Enterprise
22% 17% 17% 17% 16%
14% 20%
7% 10%
0%
20%
40%
60%
80%
100%
Czech Rep.
Poland
Brazil
M
exico
Russia S. Africa W
orld Avg
Turkey
Turkey
SoVware as % of business IT spending low
Hardware SoVware Services
Largemarketof3mm
businesses
Lowsoftwarespendingin
micro&smallsegments=
growth
30%
60%
80%
16%
33%
60%
0%
20%
40%
60%
80%
Small Medium Large
SoVware penetra[on
low
EU28 Avg Turkey
82% 66%
47%
0%
25%
50%
75%
100%
Small Medium Large
Though many ready for
cloud soVware
No SoVware but internet
Business Using SoVware
91%of small businesses have
internet
E-Transformationinitiatives from Turkish Revenue Administration driving digitization of
all businesses

27. CRM &
MARKETING
FINANCE HR
OTHER

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All financial data will be recorded digitally in the near future.
Data will be interconnected.

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S Y S T E M S O F E N G A G E M E N T

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“Systems of engagement™ are the interfaces between users
and the systems of record and can be powerful businesses
because they control the end user interactions.”
- Greylock Partners, “The New Moats"

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This landscape is prepared by user submissions, it should not be considered as a database. Send your update requests to fintech@startups.watch Send this to 10 of your friends or you will be cursed! (We're kidding! We're testing whether you're reading the footer or not)
CV: Corporate Venture ; FV: Foreign Venture ; $M : Money Raised. Startups / Ventures are sorted alphabetically. Government, Municipality and Bank initiatives are not included. Companies / Ventures are listed under their first target market (Check their website to learn all the sectors they serve)
BANKING
BKM Express CV GPay - Mobilexpress - papara - Paycell CV
Digital Wallet
American Express FV Diners Club FV Discover FV Mastercard FV VISA FV TROY CV
Card Schemes
manim -
Aggregator
Chatbank -
Conversational Banking
Multinet UP -
Unbanked
P1M1 -
Data
Asseco SEE FV Banksoft - BIS Solutions - Cardtek $19.3M Cybersoft - Fineksus - Globit - Global Payment - innova -
Infrastructure (Banking & Payment)
Codevist - Startup - Finartz - iPos - metamorfoz - Mobven - tmobtech - Set Sec - monitise MEA FV Veripark - Verisun -
Application Provider
Luna Tech - T2 -
Blockchain
SoolX -
Cyber-Security
Finecus -
Risk Management API Banking Tech. Provider
Challenger Banks
FINANCING
Euler Helmes FV Findeks CV Kredico $115K Tarfin $160K
Credit Scoring
artıpara - Enuygun - HangiKredi CV Hesapkurdu - Tekkredi -
Credit Comparison/Consolidate
figopara CV Octet FV UbiQ Innovations FV
Supply-Chain Financing
Finovatif - KrediLink -
Alternative Lending/Financing
Startup -
Micro-Credit P2P Lending
Alj, DD, Evkur, Koç Fiat Kredi, Koç F.,
Mercedez Benz, Orfin, Tırsan, Turkcell,
VFS, Volkswagen Doğuş
Consumer Financing SME Financing
CORP.FINANCE
BirFatura - BizimHesap - Defter - NKolayOfis - Paraşüt $4.5M
Bookkeeping
ETA - Login Yazılım - Startup (Public) Luca CV Mikro Yazılım - Nebim -
Accounting
dakika - KolayIK $443K OnlineBordro - Workcube -
Payroll
Ayasofyazılım, BIMSA, Bizofis, BNG, CRSSOFT, D.T.P. (Digital Planet), Doğuş Teknoloji,
EDM Bilişim, Efinans, EVE Elektronik H., FIT Solutions, GAP Bilişim, Havelsan, Hobim, IBM,
Idea Teknoloji, Innova, Intecon, ISIS Bilişim, IşNet, Izibiz Bilişim, KKB, Koç Sistem, LOGO,
Mebitech, Medyasoft, Mikro Yazılımevi, NES Bilgi, Protel, PTT, SNI, Solon, Türk Telekom,
TÜRKKEP, Turunç Bilişim, Uyumsoft, VBT, Veriban
E-Invoice
Finans Müdürü -
Risk Management
INSURANCE
Koalay V Sigorta Dükkanım - Sigortacı123 - Sigorta Küpü - Sigortam.net CV sigortayeri - Sigorta Cini -
Comparison
Polibis - PolitaSIS -
Policy Management
Globit - Risklator -
Risk Management
UrbanStat $513K
Underwriting DataEnd-to-End Platforms
Agito -
P2P Insurance
CROWDFUNDING
Lending BasedEquity Based
Buluşum CV E-Bursum -
Donation Based
Arıkovanı CV crowdFON - fongogo - fonlabeni -
Reward Based
Turkish Fintech Ecosystem Map
v4.1 , June 27, 2017
ASSETMAN.
Asset Management
Ludens -
BIGDATA
Real Estate Valuation
Reidin -Endeksa -
Other Valuation Platforms
FinMetrik -
HUBS&OTHERS
Hubs
Fintech Istanbul -
Insights & Database
FintechStartupsCo -
WEALTHMAN.
zek.ai -
Robo-Advisory
PFM
artıpara - Familup - Finansal Ajanda - GiderimVar - manibux -
Personal Finance Management
INVESTMENT
Fintables - Matriks Trader - miks - Rasyonet - Portfoyist -
Public Market
Infina - Tradesoft -
Infrastructure
BIST Özel Pazar CV
Private Market
Startup -
Real Estate
PAYMENT
HesapAl - JokerMenu - Menulux - Smart Order - Tegmos - Yemexpress -
Pre-Order & Pay
GameSultan - Payguru - TT Ödeme H. CV
Mobile Operator Payment
Cash Register & POS
Arçelik, ATP, Belbim, E DATA, Enpos, Escort,
Hugin, Infobit, Informatik, Infoteks, Ingenico,
İnter Mühendislik, Interpos, Mepsan,
Mikrosaray, NCR, Omni, Panaroma, Pavo,
Payport, Perkon, Protel, Rina Bilişim, Teknosa,
Turpak, Vera (MT Bilgi), Wincor
Order Screening (B2B)
Adisyon, Adisyon Takip, Akınsoft, Angel POS, AriaPos, AtlasPOS, Aybit, Ayrax,
Boylam, CostGuide, Dara, ExpertPOS, Imka Bilişim, Intek Rest, KerzzPos, Magpos,
Makfasoft (m-Rest), MayPOS, MeliPOS, Menulux, Mobres (Mikom), Omni (Vectron -
Nova), Orion, Pits Otomasyon, Pratik Yazılım (Flexxi), Protel, Pyro, Ramases,
Restaurant Express, Resto, Restpro, Robot Pos, ROP, SambaPOS, Sentez, Sispar,
Sistem Restoran, Sofra Restoran, Vega Yazılım, WinPOS
Paribu -BTCTurk -
Bitcoin
gustokart - ininal $2.5M manibux - param - Sinemia - Paycell Card CV
Prepaid & Discount Cards (B2B & B2C)
bpn - CMT - Gönder-al FV Mangr - Skrill FV UPT -
Money Transfer
Birleşik Ödeme - elekse - Faturakom - Faturamatik - Fatura Vizyon - FÖY - N Kolay - Pratik İşlem - TurkTahsilat -
Bill Payment
ComPay -
Banking Payment
Buy Buddy $50K mokamobil $1.5M ObiGarson - öde.al (Acquired) PayU FV Platinum Masa CV TurkPos - YoroPay -
In-Store Payment / Mobile POS
Apsiyon $2.5M biyos - BulutYönetim - e-kira - KendinYönet - kiraplus - Şeffaf Yönetim - uçarkuş - Yönetimcell -
Collection (Real Estate)
Fonzip $65K Raklet FV
Collection (NGO&Club)
ats - etcBASE - Esnek Ödeme - Intime Solutions - JointPOS - netahsilat - Payfull -
Collection (Others)
hepsipay CV iPara (Acquired) iyzico $22M mokapos $1.5M paratika - payguru - paynet - PayTR - Paytrek - PayU FV TurkPos - Wirecard -
Payment Service Provider
SerbestVade -

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Financial data will be recorded automatically at the point of
occurrence. Data will be real time.

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S Y S T E M S O F I N T E L L I G E N C E

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“The next generation of enterprise products will use different
artificial intelligence (AI) techniques to build systems of
intelligence™…We can categorize three major areas where
you can build systems of intelligence™: customer facing
applications around the customer journey, employee facing
applications like HCM, ITSM, Financials, or infrastructure
systems like security, compute/ storage/ networking, and
monitoring/ management.”
- Greylock Partners, “The New Moats"

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When financial data is automatic, real time, and
interconnected, it will become intelligent. At this moment,
accounting will be transformed.

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