Iyzico, a Turkish online payments company and potential Stripe competitor, closes $15M Series C

Iyzico, the Turkish fintech startup to allow e-commerce sites and other apps very easily acknowledge online payments, has closed $15 million in a Collection C round, $12 million of which was declared earlier this 12 months.

Joining the round is London-based mostly VC Amadeus Money Companions, investing $three million, while the 1st closing of Iyzico’s Collection C was led by Vostok Rising Finance, with participation from previous buyers, Intercontinental Finance Corporation (the World Bank’s investing arm), and Istanbul-based mostly VC 212.

In some cases dubbed the ‘Stripe of Turkey’, in reference to the extensively well-known San Francisco-based mostly payments business that it counts as a prospective competitor but which nonetheless has not launched in Turkey, Iyzico targets online companies and enterprises, specially e-commerce sites, supplying a developer-pleasant platform for having payments online.

It promises to be straightforward to combine, and delivers on-boarding in less than 24 hours, and is PCI-DSS and BRSA (Banking Regulation and Supervision Company) certified to ensure stability. Because launching in 2013, Iyzico says it is powering over 10,000 retailers, and counts two hundred, 000 vendor accounts by way of a variety of online marketplaces.

Says Jason Pinto, Husband or wife, Amadeus Money Companions, in a assertion: “The quick-rising Turkish financial state is underpinned by robust client shelling out with a higher proportion of this spend transacted with payment cards. Merchants must cater to this marketplace will need with advanced card acceptance methods. We are enthusiastic about iyzico’s possibility to deal with this desire with its fashionable, straightforward-to-combine and quick-evolving payment method.”