Armut is a technology company.
Armut has raised $6.0M across 3 funding rounds.
Armut has raised $6.0M in total across 3 funding rounds.
Armut has raised $6.0M in total across 3 funding rounds.
Armut's investors include Blockchain Capital, Digital Currency Group, Expedite Ventures, Frontier Ventures, Hummingbird Ventures, SCX Holdings, Tribe Capital, UpHonest Capital, Rashaun Williams.
Armut is a leading online marketplace for local services, connecting consumers and businesses with trusted professionals for tasks like home renovation, cleaning, plumbing, moving, tutoring, and wellness. It operates primarily in Turkey under the Armut brand and internationally via HomeRun and ProntoPro across 14 countries, serving 14 million customers with over 2.5 million professionals in 4,000+ service categories.[2][3] Founded to simplify service discovery through transparency, reviews, and intelligent matching, Armut solves the problem of unreliable providers and opaque pricing, achieving 98% customer satisfaction and explosive growth—2000% in five years, ranking as Turkey's second-fastest-growing tech company and 40th in Deloitte Fast 500 EMEA.[1][3] Acquired by HomeServe in 2021 (later by Brookfield Infrastructure Partners in 2023), it leverages global backing for expansion while maintaining dual headquarters in Istanbul and Milan.[2][3]
Armut was founded by former Turkish expats in the U.S., Başak Taşpınar Değim and Erol Değim, who returned to Turkey to build an online platform transforming the fragmented professional services sector.[1] The idea emerged from their recognition of inefficiencies in finding reliable services like painting, carpentry, and plumbing, aiming to inject transparency via technology, comments, and algorithms.[1] Early traction came swiftly: in its first year, heavy tech investments built a robust system, leading to 72% growth in 2017 with 1.3 million services across three brands and expansion to six countries.[1] Pivotal moments include ranking second in Deloitte's Fast 50 Turkey and 40th in Fast 500 EMEA with a 70-person multinational team, plus awards from Endeavor, Wired, Forbes, and others.[1][3] The 2021 HomeServe acquisition marked a major milestone, fueling international scaling under HomeRun in markets like the U.S., U.K., Romania, Egypt, Saudi Arabia, Poland, Czech Republic, Hungary, and Chile.[2]
Armut stands out in the local services marketplace through these key strengths:
Armut rides the on-demand services boom, fueled by smartphone penetration, urbanization, and post-pandemic demand for convenient home solutions in emerging and mature markets.[1][2] Timing is ideal: Turkey's online services sector exploded, mirroring global trends where marketplaces disrupt traditional directories, with Armut pioneering transparency in opaque industries.[1] Favorable forces include rising e-commerce adoption in EMEA (e.g., Saudi Arabia, Egypt) and Europe, plus Brookfield's infrastructure expertise accelerating scale.[2] It influences the ecosystem by onboarding millions of pros, boosting SME digitization, and setting standards for customer-first platforms—evident in its leadership in Turkey/Italy and EMEA ambitions.[3]
Armut's trajectory points to EMEA dominance as the top local services marketplace, propelled by Brookfield's global reach, new launches like "Rahat Taşın" (easy moving), and data-centric expansion into high-growth regions.[1][3] Trends like AI matching, gig economy formalization, and sustainability-focused services will shape it, potentially doubling pros and users amid 14-country ops.[2][3] Its influence may evolve from regional disruptor to global consolidator, acquiring rivals and integrating verticals like insurance—cementing its role in everyday tech simplification, much like its founders envisioned from U.S. expat roots to worldwide impact.[1][2]
Armut has raised $6.0M across 3 funding rounds. Most recently, it raised $2.0M Venture Round in May 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2019 | $2.0M Venture Round | Blockchain Capital, Digital Currency Group, Expedite Ventures, Frontier Ventures, Hummingbird Ventures, SCX Holdings, Tribe Capital, UpHonest Capital, Rashaun Williams | |
| Jun 1, 2016 | $3.0M Series A | Blockchain Capital, Digital Currency Group, Expedite Ventures, Frontier Ventures, Hummingbird Ventures, SCX Holdings, Tribe Capital, UpHonest Capital, Rashaun Williams | |
| Jan 1, 2014 | $1.0M Series A | Blockchain Capital, Digital Currency Group, Expedite Ventures, Frontier Ventures, Hummingbird Ventures, SCX Holdings, Tribe Capital, UpHonest Capital, Rashaun Williams |