HubX's raise at a $1.2 billion valuation is a rare, dated venture deal out of Turkey, with room for Point72 to add more.
HubX, a Turkey-based mobile-app-builder platform, raised $50 million from Point72 Private Investments at a $1.2 billion pre-money valuation, with Point72 holding an option to invest an additional $25 million later. The round is a comparatively rare dated, named venture transaction out of Turkey, a market that doesn't often produce this level of detail in English-language deal coverage.
The figures come from a single source and haven't been independently corroborated elsewhere, a gap worth noting given the size of the valuation relative to the disclosed check. Regardless, a major U.S. institutional investor is putting a nine-figure valuation on a Turkish software company, with an explicit option to add more capital later, a sign of where international venture capital is willing to concentrate even outside the more heavily covered U.S. and European markets.