THE SUCCESS OF VAVACARS LED TO A FINTECH BUSINESS

Petrol Ofisi also has a secondhand digital vehicle trading business called VavaCars. Nobody, including CEO Selim Siper, believed that the business would be successful in a completely digital environment. “Turkish people normally like to look at a car before purchasing it. But not with VavaCars. We sold 5,000 cars last month,” Siper said, adding that the success of the business led them to take a new step towards fintech. “We are establishing a financial institution that will supply car loans. We expect our license to be released soon. Our financial institution will operate in a completely digital environment. Credit will be ready in 15-20 minutes on the website. The name of the institution will be Credin,” he said.