212, Türkiye’s first venture capital fund, continues to invest without slowing down. 212 has made its latest investment in Provenance. Having raised $500,000 from 212, Provenance aims to use the funding to develop its product and grow in the Middle East, the Americas, and Asia.
212, a 15-year pioneer of Türkiye’s entrepreneurship ecosystem and a backer of global technology companies, continues to steadily pursue its investments. 212 has made its latest investment in Provenance, a US-based fintech startup founded by Tuna Üsküdar, Arda Dinç, and Chris Risio. Having raised $500,000 from 212, Provenance plans to use the funding to develop its product and accelerate its growth in the Middle East, the Americas, and Asia.
Provenance is building AI-powered financial verification and control infrastructure for investment banks, private equity funds, and corporate finance teams. The platform compares financial models and presentations against source documents in real time to detect errors and inconsistencies, while ensuring data remains traceable back to its source. Tracking changes made to financial models in tools such as Excel and PowerPoint, Provenance speeds up the financial model review process through digital control and approval workflows, significantly reducing the time teams spend on review and approval.
A new layer of trust for the world of finance
212 Investment Director Özge Sevim commented on the investment: “The problem Provenance solves touches on one of the critical, yet so far underaddressed, needs in the world of finance. There’s a significant gap when it comes to the reliability and traceability of the financial models underpinning billion-dollar decisions. Provenance is building the trust layer financial institutions need — comparing data room inputs against live financial models while creating a clear, auditable trail for every change. The early customer interest and market demand it’s received are a strong signal of both the genuine need and the team’s capacity to deliver a solution. At 212, we believe Provenance will grow into core infrastructure for financial institutions over time, and we’re pleased to support this strong team on its growth journey.”
Aiming to become a global reference in financial model verification
Provenance Founder and CEO Tuna Üsküdar commented: “As the use of AI in finance teams accelerates, models are being built and modified much faster — but review and verification processes haven’t kept pace with that speed. At Provenance, we’re building trust, verification, and traceability infrastructure for AI-generated financial work. This investment is an important step toward scaling our product and achieving our goal of establishing a new standard of trust in AI-powered workflows for finance teams. Going forward, we’ll focus on making Provenance a globally recognized reference solution in AI-powered financial model verification and review.”
