Vircon Legal advised Pepapp on its seed financing round. The round closed on 1 June 2020 with USD 314,433 raised at a USD 1,836,080 post-money valuation. The investors in the round were Kokteyl, Erdem Yurdanur and Bensu Soral Baş.
Pepapp operates in the women’s health and consumer mobile category — a category where product traction depends on the disciplined combination of behavioural design, content credibility and retention mechanics. Health-adjacent consumer products carry an additional layer of operational and regulatory consideration that pure-consumer apps do not: data sensitivity, on-platform disclosure framing, partner integrations with healthcare providers and the cross-border privacy regime that governs intimate health data all need to be designed into the product from the earliest stages, not retrofitted at later financing rounds. Türkiye sits in a useful position for this category — large urban user base, high mobile-first engagement, and a content market that travels well into adjacent geographies — and the seed-stage angel-led capital path has remained one of the cleaner financing structures for early-traction operators in this segment.
Seed rounds with mixed institutional-angel and individual-angel participation require careful structuring at this scale. The round documentation needs to accommodate multiple investor profiles with different levels of sophistication, while preserving the founder’s optionality for the follow-on financing rounds that almost certainly follow. Vircon Legal advised on transaction structuring, subscription documentation, shareholder arrangements, valuation mechanics, governance and reserved-matter design, founder vesting and IP assignment, and the post-closing corporate housekeeping required after the change in shareholder composition.
This transaction joins our wider track record advising early-stage Turkish founders on angel-led and seed-stage financing rounds. For more on the founder-side practice, see our Startup Law and Sell-Side Representation pages, and for related compliance considerations around consumer health and personal data see our KVKK & GDPR Compliance practice.
