ikas Secures $20 Million Investment to Boost E-Commerce in Europe

We’re excited to share a significant milestone in our journey at ikas: we’ve secured a $20 million investment in our Series A funding round. This achievement is a testament to the hard work and dedication of our team, and it marks a pivotal moment not only for us but also for the Turkish startup ecosystem.

The investment, led by the World Bank’s International Finance Corporation (IFC) and Re-Pie Asset Management, is the IFC’s largest single investment in a Turkish startup, underlining the impact and growth potential of ikas, especially in empowering small businesses through our innovative e-commerce platform.

Accelerating Success: ikas’s Remarkable Growth Trajectory

In the short span of two years, our rapid progress in Turkey’s e-commerce space has been recognized and celebrated, notably with our inclusion in the Deloitte Technology Fast 50 program in 2023 as one of the fastest-growing tech companies in Turkey. Our achievement of a significant SaaS milestone, escalating our Annual Recurring Revenue (ARR) from $1M to $10M in just 16 months, sets us on a path to reach $100M in the foreseeable future.

Our platform is designed to empower SMEs and entrepreneurs, enabling them to start and manage their online stores effortlessly, without needing any technical knowledge. This commitment to simplification and support is shared by our young and dynamic team, averaging 28 years in age, who are relentlessly pushing the boundaries of innovation and excellence.

With the opening of our office in Germany at the end of 2022, we are strategically positioned to become one of the leading platforms in Europe by 2030. This new funding marks a significant step towards accelerating our international expansion. It brings not only excitement but also a reminder of the road ahead.

We are just at the beginning, with a clear vision and much work to do. Together, we aim to enable our users to access new markets, enhance their online sales and productivity, and adapt to the rapidly evolving business landscape.