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.
The investment, which brings iyzico’s financing to date to $ 9.4 million, will allow iyzico to expand its research and development team, and scale its payment technology globally.
“We’re thrilled to work with the IFC, 212, Speedinvest and Endeavor Catalyst,” said iyzico CEO Barbaros Ozbugutu. “It is particularly exciting to work with the IFC – a body with tremendous knowledge and experience in financial tech sector worldwide. Having become the leading payment solution for online businesses and enterprises in Turkey, iyzico is enthusiastic to take its technology global.”
As it looks beyond Turkey, iyzico plans to target the markets of the Middle East. “Our goal is to become the Stripe of the region,” Ozbugutu said. “We’re eager to bring our easy to use and effective payment solution to the many online companies sprouting and scaling up from Lebanon to Jordan and beyond.”
“Iyzico provides comprehensive online payment solutions for ecommerce merchants and marketplaces. Iyzico-enabled merchants can offer consumers a broader choice of local payment options at lower cost and with improved security. We believe the company will be an important part of the infrastructure for Turkey’s fast growing ecommerce sector” said Andi Dervishi, Head of IFC’s FinTech Investment Group.
iyzico is a secure payment processing and management system for online businesses and enterprises, particularly e-commerce platforms. Iyzico’s payment and management system is easy to integrate, PCI-DSS certified to ensure maximum security, and can be used on any E-Commerce Platform. It offers online businesses and enterprises the ability to collect payments through subscription and installments. Founded in 2012, Iyzico has over 13,500 registered merchant accounts and is one of the fastest growing startups in Turkey.