Turkish startup ikas attracts $20M for its e-commerce platform designed for small businesses

It’s straightforward to believe the e-commerce ship has sailed when you contemplate we have giant outfits like Shopify, WooCommerce and Wix dominating the sector. But the chance for e-commerce platforms that cater to brands continue being wide and fertile, since so numerous more compact companies proceed foraying into the world wide web in the wake of the pandemic.

More proof of this has surfaced in the type of a person of the largest fundraises by a startup in Turkey, offered that the regular Series A usually arrives in at below $15 million. E-commerce platform ikas has raised $20 million in a Collection A funding spherical as it seeks to extend its functions into new marketplaces in Europe. The business at this time operates in Turkey and Germany, and suggests its platform simplifies retail outlet management for organizations that want to have a electronic presence.

The financial commitment was led by the Intercontinental Finance Corporation (IFC) fund, a undertaking arm of the Environment Lender Group.

ikas’ co-founder and CEO Mustafa Namoğlu told TechCrunch that the enterprise would be working with the new funding for worldwide growth in Jap Europe and the DaCH area.

“Most of Europe is predominantly neglected or underserved by people U.S.-based mostly giants,” he explained. “The world-wide platforms lack buyer service in neighborhood languages. It appears to be like effortless to start with, for case in point, a Shopify. But once you start out, you want to insert other plugins, and you may even will need an agency to run it.”

Namoğlu reported ikas can gain customers in opposition to other platforms due to the fact it’s much more of a “fire and forget” system. “The initially reason our retailers select us more than others is storefront speed, which offers them bigger conversion charges. You get this

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