HubX, a Turkish startup, has raised $75 million in a Series A funding round from Point72 Private Investments, becoming the country’s 8th unicorn. This investment values HubX at $1.2 billion, with $50 million received immediately and an option for an additional $25 million.
The company’s achievement is notable, as it has reached unicorn status without prior funding, instead relying on its own revenue and profits to grow. Since its inception in 2022, HubX has developed over 40 mobile and web products, including apps like Nova, Wiser, DaVinci, and Lotus Flow, which have been downloaded over 600 million times in 190 countries.
HubX’s ability to remain profitable while expanding its portfolio of apps is a rare feat in the startup world. Most companies burn through cash for years before turning a profit, but HubX has managed to grow and generate revenue simultaneously. This success can be attributed to its unique approach, which involves building a portfolio of apps and using the profits from each to fund further development and acquisitions.
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With its new funding, HubX plans to accelerate its global expansion by acquiring and integrating existing mobile and web products into its platform. This strategy will enable the company to tap into new markets and user bases, rather than starting from scratch. Co-founder Cem Ortabaş noted that the investment will allow HubX to continue building products in-house while also partnering with and acquiring teams that have developed successful apps.
HubX’s goal is to become one of the largest app companies outside of the US and China. To achieve this, the company will utilize its funding to acquire and scale apps worldwide, focusing on those that already have a user base and can be improved through HubX’s growth, AI, and monetization systems. Co-founder Kaan Ortabaş emphasized that the company’s profitable track record has validated its approach, and it is now poised to take its platform global.
Turkey’s tech industry has been gaining momentum, with the government aiming to create more “Turcorns” by 2023. HubX’s success shows the country’s growing appeal to investors, with Turkish startups raising $559 million in the first quarter of 2026 alone – a seven-fold increase from the same period last year. As investors begin to view Turkey as a viable alternative to India or Israel, HubX is well-positioned to capitalize on this trend and expand its presence in the global app market.
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With its newfound funding and ambitious expansion plans, HubX is set to make a significant impact on the global app market. The company will face challenges as it integrates new products into its platform and scales them for a global user base. Nevertheless, HubX’s track record of success and its unique approach to app development make it an exciting player to watch in the tech industry.
HubX’s story is a notable example of how a company can achieve rapid growth and success through a combination of innovative thinking, strategic planning, and careful execution. As the company looks to the future, it will be important to see how it balances its ambitious expansion plans with the need to maintain its profitability and continue delivering value to its users.
They will focus on building a strong foundation for their global expansion.
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