iyzico, a trailblazer in the Turkish fintech sector, has announced its acquisition of Paynet, a significant player in the Turkish fintech landscape, for $87m.
This strategic acquisition signifies a pivotal moment in iyzico’s journey towards enriching its portfolio and expanding its market reach. It stands as one of the largest acquisitions by a Turkish technology company in recent years.
iyzico, currently serving more than 120 thousand merchants and 6 million consumers, is dedicated to innovation and customer-centric solutions within the financial technology domain. Paynet, known for its expertise and experience in the B2B and B2B2C sectors, enables the digitization of payments for large companies, their SME partners, and end-users on a single platform.
The acquisition of Paynet complements iyzico’s existing offerings, enhancing its capabilities to provide a broader range of solutions to meet the evolving needs of businesses and consumers alike. Both companies share a commitment to excellence and forward-thinking approaches to financial technology, positioning them to redefine the future of fintech.
“iyzico is thrilled to announce the agreement for the acquisition of Paynet, a move that underscores our dedication to driving innovation and value for our customers,” said Orkun Saitoglu, iyzico CEO. “Through this combination, we’re creating a company exceptionally well-positioned to create significant value for consumers, small businesses, merchants, and shareholders.”
“We are excited that Paynet will join forces with iyzico and embark on this new chapter of growth and innovation,” said Serkan Çelik, CEO of Arena Group. “iyzico and Paynet’s respective experiences will create a company well-positioned to empower businesses and individuals to thrive in an increasingly digital world.”
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