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Turkey, Financial Services
Iyzico is transforming the payment processing experience for businesses through its bank-integrated, fraud-protected payment platform tailored to the nuances of the Turkish market.
Both founders bring expertise and passion to Iyzico. Barbaros Serdar Özbugutu worked for FIRSTDATA, and later moved to KLARNA. His Co-Founder Tahsin Isin worked for Click & Buy. Afterwards, Tahsin founded Payintelligent, a company specialized in the development and integration of payment solutions for the e-commerce market.
Both founders saw the potential in Turkish online payments. Meeting at KLARNA they realized they shared work ethics and that their Turkish heritage and payment expertise would give them an upper hand. They began discussing the idea behind Iyzico. In 2012, the team met angel investor who supported Iyzico in its initial phase. The founders officially launched Iyzico in 2013.
Iyzico’s two API platforms connect banks and payment companies with merchants, enabling merchants to accept online payments in the easiest and safest manner. The first product, IyziCollect, targets startups that lack a payment infrastructure by providing a ready-to-use platform that already has contracts and licenses set up with banks. The second, IyziConnect, targets larger merchants with a more sophisticated payment platform.
While there are many global competitors in the online payment market, none have entered the Turkish market because of the high barriers to entry, providing Iyzico with a window of opportunity. Iyzico could benefit tremendously from Endeavor’s network as the company refines and executes on its domestic and regional strategy—hopefully leading to Turkey’s next great tech success.
Turkish fintech company Iyzico, helmed by Endeavor Entrepreneurs Barbaros Özbugutu and Tahsin Isın, closed $15 million in a …
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