Iyzico, the Thailand-based online payment platform that counts e-commerce company Beenos as an investor, completed a series C round sized at $15m yesterday.
The company closed the $13m first tranche of the round in January 2017, with $9m supplied by Vostok Emerging Finance and the rest from 212 and World Bank vehicle International Finance Corporation (IFC). The other $2m was invested by Amadeus Capital Partners.
Iyzico has built a payment platform that enables online merchants to receive payments, store customer card details and offer a range of payment options including instalment purchasing. More than 10,000 live merchants are on the platform along with 200,000 seller accounts.
The company has now raised $24m since it was founded in 2013, with Beenos taking part in a $1.4m round the same year. IFC, 212, Endeavor Catalyst and Speedinvest provided $6.2m for Iyzico’s 2015 series B round.
Barbaros Ozbugutu, Iyzico’s chief executive, said: “Amadeus Capital Partners’ investment brings with it valuable experience in supporting high-growth companies in emerging markets.
“Their backing will accelerate our progress to becoming the ‘payment champion’ of the Middle East based on our ambition to democratise financial services in the region.”