Launched in December 2021, Magellan’s newest product, Alternative SuperApp, had reached 70 businesses, 900 branches and 150,000 users as of August 2022. Alternative SuperApp is going on an investment tour of 5 million dollars to accelerate its growth in Turkey and expand abroad. So what is the Alternative SuperApp?
What is an alternative SuperApp?
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Magellan is a company that has been operating for 9 years with more than 160 employees and 3 products. Offering business, product marketing, marketing communications, lean startup, product validation and more, the company designs and develops mobile and tablet ready responsive web frontends. Magellan develops modern web applications using the latest technologies and custom applications are created that require expert engineering.
Alternative SuperApp gathers different investor categories in one place with an innovative investment model. In this round, where venture capital funds, angel investors, qualified investors, institutional investors and small investors can invest at the same time, share-based crowdfunding and venture capital fund are used together. Alternative SuperApp, which targets its own customers with the crowdfunding method, is branding qualified investors with its venture capital fund.
The company, which has launched the campaign with the largest crowdfunding amount to date, wants to ensure that with this method, its customers share the story not only by using the product, but also by funding. It is stated that another reason why crowdfunding is preferred is to strengthen employee loyalty by making its personnel partners with the company. Member businesses in the alternative SuperApp can invest both through crowdfunding and venture capital funds.