# Armut.com

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/armut-com

- Industry: Internet
- Headquarters: Istanbul, Turkey
- Website: www.armut.com
- Total disclosed funding: $4.2M
- Latest round: Series A (Jun 21, 2016)
- Investors on record: 2

## About

Based in Turkey, Armut.com is a local service platform that connects users with various service providers, facilitating home-related tasks such as cleaning, renovation, and tutoring.Founded in 2011 in Istanbul, Turkey, Armut.com operates as a service platform linking users to service providers across various sectors. The founders are Basak Taspinar-Degim, Erol Degim, and Tori Richardson, with Ahmet Dönmez serving as the current CEO. The company raised USD 3.2 mn in Series A funding in June 2016, led by AddVenture, with Hummingbird Ventures also participating, bringing the total amount raised to USD 3.2 mn.Armut operates as an innovative service platform that connects users with a variety of service providers across multiple sectors. The company specializes in offering home-related services, including cleaning, renovation, transportation, repair, private tutoring, and event organization. Armut’s core offerings facilitate seamless transactions between service seekers and providers, addressing key consumer needs such as convenience, reliability, and quality. The platform serves a diverse clientele, including private homeowners, renters, and businesses, effectively catering to the demands of urban populations in Turkey, Italy, the United Kingdom, Spain, Romania, Germany, Saudi Arabia, France, Egypt, Austria, the Czech Republic, Switzerland, Hungary, and Poland. By providing a user-friendly interface and a wide range of services, Armut enhances the customer experience, allowing users to access tailored solutions to their specific needs.Armut generates revenue primarily through service transactions facilitated on its platform. The company employs a transaction-based model where customers engage service providers for specific needs, with the platform taking a commission on these transactions. This structure allows for a direct-to-consumer approach, connecting users with various service providers while ensuring a streamlined payment process. Service pricing typically reflects the nature and complexity of the task, encompassing varying rates for cleaning, moving, and repair services. As a result, Armut’s revenue is directly linked to the volume of transactions processed through its platform, reflecting the demand for the diverse range of services offered. The structure supports not only individual consumers but also businesses seeking reliable service solutions, thereby broadening the potential client base and revenue streams.In June 2016, Armut.com raised USD 3.2 mn in Series A financing led by new investor AddVenture, with participation from returning investor Hummingbird Ventures. The company plans to utilize this funding to expand regionally and to grow its marketing and product teams. Future initiatives include the development of new products and the exploration of expansion into additional markets, although specific timelines and details on these new products and regions have not been disclosed.

## Funding rounds

- Series A, Jun 21, 2016, $3.2M — Hummingbird Ventures, AddVenture
- Seed, Jan 27, 2014, $1M — Hummingbird Ventures

## Investors

- Hummingbird Ventures (https://capitalatlas.ai/funds/hummingbird-ventures) — Seed, Series A
- AddVenture (https://capitalatlas.ai/funds/addventure) — Series A