Ethos Asset Management Inc., USA (Ethos) Announces First Deal in Turkey with Servislet, a Tech Company with a Mission to Accelerate the Digitalisation of Automotive Industry Manufacturers and Dealers, in the Sum of $12 Million USD

Partnership Provides Servislet a complete Series A investment. Servislet received a groundbreaking investment of $12 Million USD in December 2021 under the leadership of San Diego-based Ethos and Attributed Holdings Turkey.

SAN DIEGO--(BUSINESS WIRE)--ETHOS ASSET MANAGEMENT INC USA announced a new long-term financing partnership with Servislet, Ankara, with a significant capital infusion of $12 Million USD, that will continue for several years. The project and investment by Ethos will enable Servislet to finance programmes aligned with their project plan. Servislet focus on the automotive industry after-sales market, brands, spare part manufacturers, service providers and sell-off locations who all have digitalisation problems. The main component of this problem is the vertical integration of manufacturers – selloff locations and marketplaces.

Carlos Santos, President and CEO of Ethos, stated, “This is a very special and important moment for Servislet, the Turkish automotive industry, the economy and for local people. I feel honoured to be a partner of such a dynamic forward-thinking company looking to solve long term problems within the industry where the market size in Turkey alone is $6.2 Billion USD. The Ethos team were exceptionally impressed with the Servislet Value Proposition, which includes turning brand websites into the sales machines and marketplaces and creating an omnichannel sales platform for brands and manufacturers where customer experience is tested and analysed with 24/7 user experience evaluation. Servislet has increased its valuation 130 times in 1 year with the 3rd investment it has received in the last year. This is a great day for Ethos as our new subsidiary (Ethos Commercial Consultancy JSC) and continued expansion drive into the UK, Europe, Turkey and the Middle East moves forward at an accelerating pace.”

Gökmen Bolayır, Co-Founder, Servislet, said, “This investment marks our 3rd round, first one being with Keiretsu Forum Turkey, leading angel investor network, in the sum of $100,000 USD and the second one being with Autostop Global – leading manufacturer of automotive accessories in July 2021 for $500,000 USD.

"Currently, Servislet operates marketplaces in Turkey and in Greece, in partnership with leading brands. With Ethos’ investment, we will introduce first-of-its-kind digital assets and bring a new perspective to auto service industry which we expect to be utilized by both consumers and manufacturers. With the growing 'on demand' economy, we understand that consumers want to have quicker, easier and transparent access to auto servicing. And we want to reduce access time to 2 hours. Globally.

"Our new SAAS software, Servislet Dali, will be globally available with different language support in key markets. We have already secured deals with leading tyre manufacturers. We expect Dali using brands to increase online and offline market shares by a minimum of 5 points after full adoption. This is a game changer. Lastly and most importantly, with Ethos’ backing, we will release our blockchain based data storage and transfer tools for all players in mobility, not limited to the auto manufacturers.

"With our products, manufacturers will track vehicle data, services completed, spare parts, insurance components on a single network. This will enable targeted, 100% accurate data collection, better marketing campaigns and simplified loyalty programs.

"This is huge news for car owners. They will have true and honest access to their car data history and will be able to transfer in one click.”

Hans Kastensmith, Attributed Holdings Managing Partner, said, “The Servislet deal marks 8 months of work in opening the Turkish market for Ethos’ style of project financing. The AHI team, which included its sister company Attributed Consultancy Turkey managed by Ozer Firat and Kemal Genc, worked closely with Servislet and Ethos to introduce and then oversee the deal to a successful close. We could not have had a better client and financier in Ethos and Mr. Santos to work with on our first deal in Turkey and we wish the Servislet team the best in their endeavours and congratulate Ethos on a tremendous accomplishment.”

About Ethos Asset Management:

Ethos is an independent, US-based company with a global reach in project financing.

For more information about Ethos, please visit:

https://www.ethosasset.com/

About Servislet Yazılım Anomim Şirketi (Servislet):

Servislet, which offers the technology needed by the automotive industry on a global scale, shows that it is on track with the investments and valuations it has received.

For more information about Servislet, please visit:

https://www.servislet.com/

About Attributed Holdings and Attributed Consultancy

Attributed Holdings and its sister firm Attributed Consultancy is a global holding and consultancy company focused on resource mobilization. Attributed works to establish successful project financing transactions as an associate and partner of Ethos.