Parasut is a technology company.
Parasut has raised $2.0M across 1 funding round.
Parasut has raised $2.0M in total across 1 funding round.
Parasut has raised $2.0M in total across 1 funding round.
Parasut's investors include Diffusion Capital Partners.
Parasut is a Turkey-based SaaS company providing cloud-based accounting and financial management software tailored for small and medium-sized businesses (SMBs) and entrepreneurs.[1][2][4][5] It enables users to handle invoicing, inventory tracking, expense management, reporting, and bookkeeping without advanced accounting expertise, solving the problem of complex, manual financial operations for non-experts.[1][2][5] Formerly known as eDefter, Parasut raised $4.3M from investors including Revo Capital and Ribbit Capital before its acquisition in May 2019 by MikroGrup and Zirve Yazılım, after which it continued operations with reported revenue of $5-10M and 50-99 employees as of recent data.[1][2]
The platform's growth reflects strong momentum in Turkey's fintech scene, with inclusion in CB Insights' Fintech 100 for transforming financial services via software.[1] Post-acquisition, it maintains a focus on ease-of-use, serving Istanbul-headquartered SMBs through web and mobile apps.[1][4]
Founded in 2013 in Istanbul, Turkey, Parasut emerged to digitize financial management for SMBs, starting as eDefter before rebranding.[1][3] The idea addressed the need for simple, cloud-based tools amid Turkey's growing digital economy, where small businesses struggled with paperwork-heavy accounting.[5] Early traction came from its intuitive features like invoice and stock tracking, attracting seed funding and leading to a Series B round totaling $4.3M from backers such as Bek Ventures, Revo Capital, and Ribbit Capital.[1][4]
A pivotal moment was its May 2019 acquisition by MikroGrup and Zirve Yazılım, Turkish software firms specializing in enterprise solutions, which integrated Parasut into a larger ecosystem while preserving its SMB focus.[1] This deal marked its evolution from startup to established player, with leadership including a Co-Founder & CTO and CFO driving post-acquisition stability.[2]
Parasut rides the global SaaS fintech wave, particularly cloud accounting for SMBs, accelerated by digital transformation in emerging markets like Turkey.[1][5] Timing aligns with Turkey's e-invoicing mandates and rising SMB digitization post-2013 founding, fueled by market forces such as mobile penetration and regulatory pushes for electronic ledgers.[1][3] It influences the ecosystem by democratizing finance tools, included in analyst collections like Fintech 100, and supports Turkey's startup scene via efficient operations for thousands of users.[1]
As an acquired entity, Parasut exemplifies consolidation trends where local giants like MikroGrup absorb innovative SaaS plays, strengthening Turkey's position in European fintech amid competition from global players like QuickBooks.[1][4]
Post-2019 acquisition, Parasut is poised for expanded features like AI-driven insights and deeper ERP integrations, leveraging parent companies' resources amid Turkey's fintech boom.[1][2] Trends like automated compliance and mobile-first finance will shape its path, potentially driving international growth into MENA/Europe. Its influence may evolve through ecosystem dominance, empowering more SMBs in a cashless economy—cementing its role as a foundational tool for Turkey's digital businesses, much like its origin as a simple parachute for financial complexity.[1][5]
Parasut has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Series B in November 2016.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2016 | $2.0M Series B | Diffusion Capital Partners |