Ikas – Turkey’s omnichannel retail management platform raises funds

Ikas - Turkey's omnichannel retail management platform raises funds
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Source: MENAbytes

Ankara, Turkey-based omnichannel retail management platform Ikas has raised an investment from Qnbeyond Ventures, the investment arm of Turkish bank QNB Finansbank. The amount of funding has not been disclosed yet but the startup in a statement to MENAbytes told that the post-money valuation for Ikas has come ou as $6 million. The company has plans to deploy the funds towards product growth, building an engineering team and acquiring new customers.

Founded in 2018 by Mustafa Namoglu, Omercan Celikler, Tugay Karacay, and Umut Ozan Yıldırım, Ikas makes it easy for businesses to manage their physical stores, marketplace sales and e-commerce, from one single platform.

It comes with the cloud-based POS system that enables businesses to manage their offline stores and an online marketplace management platform that allows them to manage orders and inventory on different leading local online marketplaces including Trendyol, Hepsiburada, Amazon Turkey, and N11. It also comes with integration options for the leading ecommerce enablement platforms like Shopify, Woocommerce, and Magento.

The businesses using its marketplace management solution can list all their products with a single click, manage the inventory and orders (both from online and offline stores), and send electronic invoices to customers.

The pricing of the solutions Ikas offers depends on the size of the business (i.e. number of offline stores) and whether it is only looking for the POS software, marketplace management platform, e-commerce, or a combination of three. The POS software starts from $235/month (EUR 199) and the marketplace integration from $176/month (EUR 149).

The company claims to have over 1,000 retailers on the platform at present in Turkey and planning to launch the platform globally next year.

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