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Turkish fintech Iyzico acquires Paynet in $87m deal | Fintech InShorts: Latest fintech news, analysis by experts

Turkish fintech Iyzico acquires Paynet in $87m deal

AIBankingBusiness

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Turkish fintech Iyzico acquires Paynet in $87m deal

May 9, 2024

Turkish fintech Iyzico is acquiring Paynet, a B2B and B2B2C payment solutions provider, from parent company the Arena Group in a deal valued at $87 million.
This acquisition is one of the largest by a Turkish fintech firm recently and aims to enhance Iyzico’s payments offering and expand its presence in Turkey.
Founded in 2013, Iyzico specializes in online payment services and AI-driven payment technologies for e-commerce businesses, serving over 40,000 e-commerce websites.
Paynet, established in 2000, facilitates payment digitization for 30,000 businesses across various sectors, simplifying payment flows for member companies.
The integration of Paynet’s B2B payments and collections solutions into Iyzico’s offerings following regulatory approvals is expected to broaden Iyzico’s services and enhance its value proposition.
Orkun Saitoglu, CEO of Iyzico, sees this strategic move as an opportunity to create significant value for consumers, small businesses, merchants, and shareholders, aligning with Iyzico’s vision of democratizing financial services.

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