Turkey’s Iyzico Closes $15 Million Series C Funding Round
Turkish fintech company Iyzico, helmed by Endeavor Entrepreneurs Barbaros Özbugutu and Tahsin Isın, closed $15 million in a Series C round announced April 2017. The round was led by Vostok Emerging Finance, with participation from previous investors International Finance Corporation and 212, and was joined by global technology venture capital firm Amadeus Capital Partners.
The investment, which was highlighted in TechCrunch, will enable the company to advance its plans to expand its online payment business in the Middle East and Europe, and aspirations to become the “Stripe of Turkey,” referencing the highly popular San Francisco-based payments company that has yet to launch into Turkey.
“Amadeus Capital Partners investment brings with it valuable experience in supporting high-growth companies in emerging markets,” Iyzico CEO Barbaros Ozbugutu said in the company’s press release. “Their backing will accelerate our progress to becoming the ‘payment champion’ of the Middle East based on our ambition to democratize financial services in the region.”
Iyzico offers its clients over 22 different payment options and features like recurring payments, bin control, one click payments, installment payments, bank transfers and marketplace solutions. Iyzico targets online businesses and enterprises, particularly e-commerce sites, offering a developer-friendly platform for taking payments online. Since it launching in 2012, Iyzico calculates it is powering more than 10,000 merchants, and counts 200,000 seller accounts via various online marketplaces.
Selected into the Endeavor network in 2014, Iyzico’s team has proven their high-impact potential time and time again, acquiring analytics firm MyPat.co, and securing investment from Endeavor Catalyst, Endeavor’s innovative, rules-based co-investment vehicle, as part of the company’s Series B fundraising round in 2015.
Learn more about Iyzico here.