ⓘ Featured Image Credits: MENAbytes
Mobilexpress, an Istanbul, Turkey-based fintech startup has recently raised a whopping $2 million in a Series A round led by Istanbul’s Collective Spark, with participation from a clutch of angel investors including Tunç Mehmet Berkman, Ali Kolaghassi, Deniz Doany, Careem’s former VP of Growth Emre Tok. The news came via MENAbytes on Tuesday, 7 July.
Founded by Zeynep Sener in 2011, Mobilexpress is now led by Emre Guzer as the CEO. Guzer co-founded PayU in 2006 and assumed different leadership roles until 2019. The fintech startup offers online payment gateway, smart transaction routing, card storage, cross-border services, and anti-fraud capabilities. Mobilexpress also offer customised solutions to Turkey’s majors in e-commerce, retail, insurance, and telecom companies.
The company claims to be processing around 10 million transactions per month and over 15 million cards tokenized – making it the largest online payment platform in Turkey.
Commenting on the investment round, Guzer in a statement to MENAbytes said,
“Thanks to the new approach of the Central Bank of Turkey and in parallel the positive environment created by the recent regulatory changes, the new generation of Fintechs has been showing rapid progress and reaching new heights in a relatively short time span and unlike traditional financial institutions that have been operating for years,”
“Open Banking, PSD2, new generation payment systems and other solutions that can be offered in a 360-degree approach by Mobilexpress will be advantageous for unbanked businesses that aim to grow but have been unable to do so in recent years. It is observed that banks have started to cooperate with fintechs and paved the way for growth of businesses, helping them scale successfully in recent years,”
“We will continue to keep the name and services of Mobilexpress alive in the code of our new brand. In this new journey, I would like to thank my partners, my team, and the Collective Spark team who did not hesitate even for a moment in their faith during such an unprecedented period shaped by the COVID-19 pandemic.”
Görkem Oktay, General Partner of Collective Spark, said,
“The fintech ecosystem in Turkey, parallel to the strengthening of the banking infrastructure, continues its strong growth momentum with innovative technological initiatives. In that respect, we regard Mobilexpress as a successful fintech player on the back of its strong infrastructure, experience of its team providing technology services and the breadth of payment solutions that can be offered to businesses and consumers,”
“We believe that the company possesses the potential to replicate its success in Turkey across international markets. As Collective Spark, we are happy to support Mobilexpress in this funding round alongside co-investors and complete another investment in the area of fintech which is one of our Fund’s key target industries,” Oktay added