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Japan’s Netprice.com invests in Turkish payment processor Iyzi Payments

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Japanese e-commerce and incubation company Netprice.com announced on Monday that it has invested in Turkish payment processor Iyzi Payments. According to a statement from Iyzi’s founders, this is a part of a series A funding round worth $1.4 million. Several investors participated including Pachicle Invest, Speedinvest (an angel investment fund based in Austria), and Beenos Asia (a subsidiary of Netprice.com in Tokyo). Following the investment, Speedinvest CEOs Stefan Klestil and Oliver Holle will join Iyzi’s board. Iyzi was founded in Istanbul back in 2012, and introduced its first product, Iyzico, back in April, providing local e-commerce companies with easy-to-implement card payment solutions. Iyzi Payments’ co-founder and CEO Barbaros Özbugutu commented: Being able to use this entire $1.4 million investment for the Turkish market shows that our investors have confidence in the potential and importance of the e-commerce market here. Our primary goal now is to develop our Iyzico product further and to invest in sales and marketing activities to grow even faster. For Netprice.com, this is its second investment in a Turkish business following its previous investment in Turkish e-commerce site Akakce.com. Through these investments, the Japanese company expects to gain insights into Turkish e-commerce trends and contribute to the…

iyzipayments_logoJapanese e-commerce and incubation company Netprice.com announced on Monday that it has invested in Turkish payment processor Iyzi Payments. According to a statement from Iyzi’s founders, this is a part of a series A funding round worth $1.4 million. Several investors participated including Pachicle Invest, Speedinvest (an angel investment fund based in Austria), and Beenos Asia (a subsidiary of Netprice.com in Tokyo). Following the investment, Speedinvest CEOs Stefan Klestil and Oliver Holle will join Iyzi’s board.

Iyzi was founded in Istanbul back in 2012, and introduced its first product, Iyzico, back in April, providing local e-commerce companies with easy-to-implement card payment solutions.

Iyzi Payments’ co-founder and CEO Barbaros Özbugutu commented:

Being able to use this entire $1.4 million investment for the Turkish market shows that our investors have confidence in the potential and importance of the e-commerce market here. Our primary goal now is to develop our Iyzico product further and to invest in sales and marketing activities to grow even faster.

For Netprice.com, this is its second investment in a Turkish business following its previous investment in Turkish e-commerce site Akakce.com. Through these investments, the Japanese company expects to gain insights into Turkish e-commerce trends and contribute to the future developments in the Turkish startup community.

iyzipayments_screenshot

Japan’s Netprice.com invests in Turkey’s largest price comparison site Akakce.com

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Japanese e-commerce and incubation company Netprice.com announced today that it has invested in Turkey’s largest price comparison site Akakce.com, establishing a strategic partnership at the same time. Detailed figures about the investment were not disclosed. According Netprice, this will be the first investment by a Japanese company into a Turkish e-commerce business. Update: According to turk.internet.com, Netprice.com took a 20% stake in Akakce.com. Akakce.com was founded in 2000 in Ankara, the capital city of Turkey, provides the nation’s consumers with prices and user opinions about a variety of products such as home appliances, health care products, and gaming products. Turkey’s population is around 75 million, and about 47% of them have access to the Internet [1]. The country has huge potential for e-commerce because payment and logistics infrastructure are already sufficient. Akakace.com has more than 4 million monthly unique visitors. Through this partnership, Netprice.com aspires to learn more about the Turkish e-commerce market, and plans to help the community grow by incubating local startups. Since Turkish entrepreneur Bora Savas joined the investment team at NetPrice.com back in January, I assume he involved in this investment — likely an important link in helping the Japanese company connect with the Turkish startup community….

akakceJapanese e-commerce and incubation company Netprice.com announced today that it has invested in Turkey’s largest price comparison site Akakce.com, establishing a strategic partnership at the same time. Detailed figures about the investment were not disclosed. According Netprice, this will be the first investment by a Japanese company into a Turkish e-commerce business.

Update: According to turk.internet.com, Netprice.com took a 20% stake in Akakce.com.

Akakce.com was founded in 2000 in Ankara, the capital city of Turkey, provides the nation’s consumers with prices and user opinions about a variety of products such as home appliances, health care products, and gaming products.

Turkey’s population is around 75 million, and about 47% of them have access to the Internet [1]. The country has huge potential for e-commerce because payment and logistics infrastructure are already sufficient.

Akakace.com has more than 4 million monthly unique visitors. Through this partnership, Netprice.com aspires to learn more about the Turkish e-commerce market, and plans to help the community grow by incubating local startups.

Since Turkish entrepreneur Bora Savas joined the investment team at NetPrice.com back in January, I assume he involved in this investment — likely an important link in helping the Japanese company connect with the Turkish startup community.

akakce.com_screenshot


  1. This is based on surveys from Eurostat and Turkstat.  ↩