Core Finance provided advisory services to PayTR, Turkey’s second-largest payment service provider by transaction volume, regarding a growth equity investment from Actera Group.
Founded in 2009 by Yiğit Cengiz, PayTR delivers payment solutions to merchants and individual sellers through virtual POS, Marketplace, and Pay-with-link offerings. The company demonstrated impressive growth metrics in early 2021, achieving 560% growth in transaction count and 153% growth in payment volume compared to the prior year period.
PayTR plans to leverage the new funding to introduce enhanced features and products for its 50,000+ merchant clientele while expanding marketing efforts and pursuing both organic and inorganic growth strategies.
CEO Tarık Tombul noted that PayTR’s success stems from delivering “uninterrupted, innovative and reliable service” amid Turkey’s thriving e-commerce sector.
This transaction marked Core Finance’s tenth advisory engagement within twelve months and second fintech deal in one week.