ikas, an Ankara, Turkey-based company that provides an e-commerce platform for SMEs and large companies, has raised $20 million in Series A funding.
Investors
The round was led by the International Finance Corporation (IFC) and Re-Pie Asset Management.
The International Finance Corporation is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. As a member of the World Bank Group, it is headquartered in Washington, D.C., United States.
Re-Pie Asset Management is an alternative asset management company that provides funding opportunities and resources for Turkish Capital Markets to facilitate new investments. Founded in 2015, the company is based in Istanbul, Turkey.
ikas Use of Funds
The company plans to utilize this capital infusion to accelerate its international expansion efforts, focusing on Europe and other strategic markets. Additionally, the investment will enable ikas to enhance its e-commerce platform, invest in technological innovation, and expand its customer base.
About ikas
ikas was founded in 2017 to support digital transformation and increase sales volume. The company has developed an e-commerce platform tailored for SMEs and entrepreneurs to manage their online stores without requiring technical expertise. The platform assists in order and inventory management, facilitates product transfer to company websites, tracks profit margins, and implements search engine optimization (SEO) techniques to enhance client traffic. Today, Ikas operates in various locations, including Ankara and Istanbul, Turkey, and Germany, with offices in Berlin and Aalen.
Funding Details
Company: ikas, Inc.
Raised: $20.0M
Round: Series A
Funding Month: April 2024
Lead Investors: International Finance Corporation (IFC), Re-Pie Asset Management
Additional Investors:
Company Website: https://ikas.com/
Software Category: Ecommerce
Source: https://www.newsfilecorp.com/release/204273