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It ’s easy to accept the e - commerce ship has sweep when you look at we have giant turnout like Shopify , WooCommerce and Wix dominating the sector . But the opportunity for e - commerce platforms that cater to brands stay vast and prolific , since so many smaller clientele continue despoil into the internet in the wake of the pandemic .
Further evidence of this has surfaced in the frame of one of the largest fundraises by a startup in Turkey , given thatthe average Series Ausually comes in at below $ 15 million . E - commerce platformikashas raised $ 20 million in a Series A funding beat as it seeks to flesh out its operation into new market in Europe . The society presently operates in Turkey and Germany , and say its platform simplifies store management for companies that want to have a digital presence .
The investment was led by theInternational Finance Corporation ( IFC ) investment trust , a speculation subdivision of the World Bank Group .
ikas ’ co - laminitis and CEO Mustafa Namoğlu differentiate TechCrunch that the company would be using the new funding for international expansion in Eastern Europe and the DaCH region .
“ Most of Europe is predominantly neglected or underserved by those U.S.-based hulk , ” he say . “ The globose platforms lack client service in local languages . It looks easy to start with , for example , a Shopify . But once you start , you need to add other plugins , and you may even postulate an agency to run it . ”
Namoğlu said ikas can win customers against other political platform because it ’s more of a “ fire and draw a blank ” platform . “ The first reasonableness our merchants pluck us over others is storefront speed , which gives them high conversion rate . You get this out of the loge , even if you pay us € 30 per month . The second reason is customer religious service . third , we clump the payments and the shipping labels into our essence product , which means you do n’t need to go and negotiate with payment provider or shipping recording label . You ’re now quick to go , ” he suppose .
Namoğlu previously founded MUGO , a fashion dispersion and retail company , and launched ikas in 2017 with carbon monoxide gas - founder Tugay Karaçay , Ömercan Çelikler and Umut Ozan Yildirim .
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The IFC invests direct in companies as well as through PE and VC monetary resource .
Also investing in ikas is Re - Pie Asset Management , which has grocery rescue startup Getir in its portfolio . The round of golf find out participation from ikas ’ existing investor Revo Capital , best screw as the first institutional investor in Getir , Param , Midas and Roamless .
