Core Finance has advised PayTR, the second largest payment service provider in Turkey by annual volume, on its growth investment from Actera Group.
PayTR, founded by Yiğit Cengiz in 2009, provides secure payment solutions to online merchants and personal sellers of different sizes with virtual POS, Marketplace, Pay-with-link services. The company is growing robustly and in the first quarter of 2021, experienced a growth of 560 percent in number of transactions and 153 percent in payment volume compared to the first quarter of the previous year. PayTR projects to have 6 Billion TL (appx. 723m USD) payment volume in 2021.
Together with the new funding, company plans to roll out new features and products to enhance services provided to its more then 50,000 merchant clients and to increase its marketing and both organic and inorganic growth efforts.
Yiğit Cengiz, Founder and Chairman of the Board of Directors of PayTR, stated: “It is very meaningful for us that Actera invest in our company in order to support our vision of becoming the leading fintech company in the field of payment services in Turkey. With the investment, we will be further accelerating our growth rate and diversify our services. We are determined to make PayTR a versatile fintech company with the innovation investments we have in our business plan. CORE has been a great advisory partner to us. Their sector expertise, hard work, and highly efficient process were instrumental in delivering the ideal transaction to continue our mission.”
Tarık Tombul, CEO of PayTR, added: “PayTR has become one of the leaders of the industry as the fastest growing payment service provider in Turkey. Our ability to provide uninterrupted, innovative and reliable service to businesses that prefer our products plays a crucial role behind our success. E-commerce growth continues phenomenally in Turkey and Actera investment is very valuable to us. On one hand, we continue to grow rapidly on the payment service side, which we see as the main line of business of PayTR, on the other hand, we aim to invest in areas where we will offer new values to businesses and consumers ”.
Yağız Sözmen, Managing Partner at Core Finance commented: “We are very proud to have assisted PayTR in their journey. We love PayTR team and what they achieved so far and believe that the combination of already existing management and talent in the company and the strength of the new investor Actera will bring tremendous synergies going forward.”
This represents Core Finance's 10th transaction in the last 12 months and 2nd in the last week in Fintech, including Arrow Treasure and Archery Global's investment into Infracommerce, the leading e-commerce, fintech and logistics platform in Brazil.