Craftgate, an Istanbul-based FinTech company, announced a recent investment round that infuses $1m into the firm’s coffers.
The investment comes from D-MARKET Electronic Services & Trading, doing business as Hepsiburada, a leading Turkish e-commerce platform, and D4 Ventures, a UK-based venture capital company.
The company provides an integrated payment orchestration platform for e-commerce companies, facilitating seamless integration with virtual POS systems from multiple banks. The platform also supports various other payment and e-money institutions and offers alternative international payment methods. Craftgate’s solutions encompass smart and dynamic payment routing, card storage, one-click payment, recurring payments, closed-loop wallet, and payments via link and QR codes, among other features.
The new funding is earmarked for spurring Craftgate’s growth and bolstering its marketing efforts. The capital injection will enable the firm to tap into new opportunities and possibly refine its existing solutions.
Craftgate CEO Hakan Erdoğan said, “We believe that Türkiye has an immense potential in fintech services with its young and tech-savvy population, entrepreneurial spirit and high financial inclusion. Since 2007, we have been working on payment systems with a passionate team, a successful product and a strong technological infrastructure.
“We know very well the dynamics of the banking system and infrastructure providers and we provide solutions to the problems experienced in this great ecosystem with extensive R&D studies. We are growing rapidly day by day with the strength of our investors, such as Hepsiburada and D4 Ventures, who believe in our payment systems experience and product, and we move forward with the goal of becoming global. I think this partnership with our new investors will further reinforce our strength.”
Additionally, Hakan Erdogan shared insights on their strategic focus, stating that they believe this investment will particularly “reinforce our strategy in the e-commerce related payment solutions market.”
The funding from Hepsiburada and D4 Ventures joins an undisclosed amount of previous investments that have helped position Craftgate as an evolving entity in the FinTech landscape.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
