iyzico, an Istanbul, Turkey-based financial technology company, acquired Paynet, a provider of B2B payments and collections services in the Turkish fintech landscape, for USD87M from Arena Group.
The closing of the transaction will be subject to regulatory approvals (i.e.Central Bank of Republic of Turkiye, Competition Board.) Paynet’s B2B payments and collections services will complement iyzico’s existing offerings, enabling the combined entity to provide a broader range of solutions to meet the evolving needs of businesses and consumers alike.
iyzico currently serves more than 120 thousand merchants and 6 million consumers.
Paynet is a player in the field of B2B and B2B2C payment services, enabling member companies to manage their payment flows easily, without space and time limitations, with its solutions developed entirely by its own teams. It digitizes the financial processes of more than 30,000 businesses operating in many different sectors. The company is licensed by the Central Bank of Turkish Republic.
Led by CEO Orkun Saitoglu, iyzico is a provider of innovative financial technology solutions, dedicated to empowering businesses and individuals with tools and services.
FinSMEs
07/05/2024