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ikas: The Next Generation eCommerce Platform Catered to Small Businesses

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By: Headliners News / April 23, 2024

Meet ikas, an innovative Turkish tech startup who has recently secured $20 million in a Series A funding round, marking one of the largest fundraises in Turkey’s startup scene. Despite the dominance of giants like Shopify and WooCommerce, ikas aims to capitalize on the vast opportunities in e-commerce platforms catering to small businesses.

ikas simplifies store management for companies seeking a digital presence, particularly those in Europe. With operations in Turkey and Germany, the company plans to expand into new markets across Eastern Europe and the DaCH region. Mustafa Namoğlu, ikas’ co-founder and CEO, emphasizes the platform’s advantages over global competitors, highlighting storefront speed, customer service, and bundled payments and shipping labels.

Namoğlu’s background in fashion distribution and retail, along with the expertise of co-founders Tugay Karaçay, Ömercan Çelikler, and Umut Ozan Yildirim, positions ikas for success in the e-commerce space. The investment round, led by the International Finance Corporation (IFC) fund, signifies confidence in ikas’ potential for growth and innovation.

Re-Pie Asset Management, known for its investment in grocery delivery startup Getir, also participated in the funding round, alongside existing investor Revo Capital. This strategic investment underscores the industry’s recognition of the startup’s unique value proposition and its commitment to empowering small businesses in the digital economy.

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