iyzico Closes $ 6.2 million Series B Investment Round

iyzico Closes $ 6.2 million Series B Investment Round with the IFC, 212, Endeavor Catalyst and Speedinvest

Istanbul, Turkey – May 25 – iyzico, a Turkey based payment solutions company, closed a $6.2 million Series B investment round with the International Finance Corporation (IFC), the World Bank’s investing arm, Istanbul based venture capital firm 212, New York based investor Endeavor Catalyst, and Speedinvest from Austria. The IFC led the investment round.

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Decisions, decisions…

(Turkish version can be found below)

Like everyone else, my life is filled with decisions to be made. Some decisions can be simple as to what eat for lunch. Others can be quite complicated, such as moving to an other country (I’ve done it three times), changing jobs (five times), starting a new business (four times). Continue reading

Recent Developments in Competition Law Enforcement in E-Commerce

Av. Bora Ikiler is a counsel at Moroğlu Arseven 

(Turkish version can be found below)

Lately, both global and local competition law enforcement is focusing on online markets. The recent press release of the Turkish Competition Authority about opening an investigation on the activities of Yemeksepeti and the press release about the statement of objections of the European Commission against Google, signals that e-commerce markets will be on the radar screen of the competition law enforcers for a near future.


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Startups, investments, & role of the government

Following decades of living in between Tokyo and New York and working at investment banks, I decided to move to Istanbul in 2010 to cultivate entrepreneurship and venture investments. The city, Turkey’s financial center, had started to emerge as a hub for tech startups, particularly in the e-commerce sector. Yet, there were no institutional investors – there was no Turkish venture capital.

Not long after I had landed in Istanbul did Kleiner Perkins, one of Silicon Valley’s top venture capital firms, invest along with Tiger Global a combined $26 million in Trendyol, a Turkish version of Gilt Group. In a separate deal, eBay purchased local company GittiGidiyor.com for over $200 million. Indeed, the ease with which my partners and I set up our firm, 212, and raised our first fund of $30 million confirmed my supposition that investing in Turkey had promise.

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Solvoyo Cited Among the Best SaaS Cloud Service Companies in Europe by the Euro Cloud Congress

Oct 1, 2014: The Euro Cloud Congress, the premier gathering of the European cloud industry recognized Solvoyo as one of the best SaaS (software-as-a-service) services in the market.

According to Bernd Becker, President of Euro Cloud, “it is without question that Europe is very much dependent on the creativity of start-up companies such as Solvoyo who are bringing innovative future shaping cloud services to the European and international market.”

Taking the award on behalf of Solvoyo, Nilufer Durak, COO, commented “we are proud to be recognized as a company not just because we bring cool technology through the cloud but also because we create significant value for our customers. Euro Cloud plays an important role in showcasing companies like us throughout Europe.”


About Solvoyo

Solvoyo is an international enterprise software company based in Boston, MA, and Istanbul, Turkey. Solvoyo provide strategic, tactical, and operational supply chain planning in one platform giving companies the most comprehensive tool to maximize profits while minimizing costs.

Solvoyo is unique in being able to plan inventory, orders, and transportation concurrently. By optimizing across companies’ entire network, as opposed to individual silos, Solvoyo helps get business results and benefits that are multiples of traditional solutions.


About the Euro Cloud Congress and the Euro Cloud Award

The Euro Cloud Congress is an umbrella organization bringing together the leaders of the European cloud industry every year to further the cause of cloud adoption in 21 member countries. The Euro Cloud Awards recognizes the best European cloud service providers – winners of the national Euro Cloud awards in their respective countries.

Tech Startups & Boutique Wineries

Last weekend we visited some boutique wineries at north east of Turkey (Trakya). After having wonderful conversations with winery owners, I realized the similarities with startups.

Both start ups and boutique vineries are run by entrepreneurs who want to do something different or change the way others do the things. All work with passion and want to build something great. Of course like any other business, “me too” types who want to make quick bucks exist in this business, too. Continue reading

Number of investments doubling in Turkey comparing to previous two years

Turkish technological sector has been experiencing a major boom over the first half of the 2013. The number of Venture Funds, angel investors and number of investments are growing dramatically. The total amount of Venture Capital investment in Turkey was around $142M* in 2011. It decreased to $100M level in 2012 and has already passed last year’s performance in the first half of 2013. (Please note that these figures are calculated based on announced investments and details)

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How to navigate the long slow SaaS ramp of death

How to navigate the long slow SaaS ramp of death

I received above link from a friend. Being ex-customer of Constant Contact, I really enjoyed watching Gail Goodman’s presentation. So decided to share it here. This is definitely in “must watch” list.

Also blog post by David Skok – SaaS Metrics 2.0 – A Guide to Measuring and Improving what Matters is very good.


Priceless lessons learned in building an online product. This is the compelling story with many real life facts on how the world’s largest email service, Constant Contact, grew and thrived. Complements of Business of Software.

“Our biggest barrier to usage is content. Small businesses doesn’t know what to say” – Gail Goodman, Constant Contact

5/7 Update: Updated the link with working one