Innovation has been, without question, one factor behind the excitement about entrepreneurship worldwide. From the microchip to the iPhone, the personal computer to virtual reality, new technologies have pushed progressed forward – and transformed our lives.
Among the biggest transformation: social mobility. Millions across the globe have moved out of poverty into the middle class. That is certainly true in Turkey and its surrounding region.
The biggest impact of the middle class? Spending.
The middle class has fueled growth in consumer products, in services, on the Internet – and, most importantly, in payments.
How people pay for goods and services has created the hottest startup opportunities.
We are pleased to announce iyzico raised USD13 million in a round led by Vostok Emerging Finance with participation from 212 Capital Partners and International Finance Corporation.
Vostok Emerging Finance is a part of Vostok New Ventures with more than USD600 million of Net Asset Value and investments including BlaBlaCar, Gett and Delivery Hero.
For press release and news links:
Full Press Release
New Year, new newsletter
There’s lots going on with and for startups from the Danube to Dubai. And 212 is on it. We’re changing up this newsletter to bring you not just headlines but to give perspective and depth. Know and understand. That’s our motto for 2017. Toward that end, we have a new design:
- The Latest (featuring mergers, acquisitions, trends or what we’re going to call Watch This Space)
- Deep dive (where we’ll go deep on a particular topic)
- And, drumroll… After Hours
Knowing and understanding means being well rounded. We can’t be all startup all the time. In After Hours we bring you interesting books, music, art, food, wine – all things culture.
Let’s get to it:
2016 was a difficult year. From where I sit in Istanbul, this is what I saw: stifling emerging market growth; a plummeting Turkish Lira (20% decline); terrorist attacks in Turkey and Europe; a worsening refugee crisis; a coup attempt.
Any one of these would dissuade even the most ambitious entrepreneur in the West from launching a business. Not here. Entrepreneurs in EMEA are tough. I am in awe of the resilience the entrepreneurs demonstrated throughout the year. They did not just survive; they evolved, grew stronger and entered new markets. As you can see here: Continue reading