Funding

[Funding alert] Berlin-based ikas Secures $20Million in Series A Round Funding

Apr 5, 2024 | By Startup Rise EU

New generation e-commerce infrastructure ikas secures $20Million in series A round funding
iKas has created an e-commerce platform that lets SMEs and entrepreneurs launch online stores without requiring technological expertise. This allows for global sales.

New generation e-commerce infrastructure ikas secures $20Million in series A round funding. This achievement is a testament to the hard work and dedication of their team, and it marks a pivotal moment not only for them but also for the Turkish startup ecosystem.

The Series A investment, led by the World Bank’s International Finance Corporation (IFC) and Re-Pie Asset Management, is the IFC’s largest single investment in a Turkish startup, underlining the impact and growth potential of ikas, especially in empowering small businesses through their innovative e-commerce platform.

In the short span of two years, their rapid progress in Turkey’s e-commerce space has been recognized and celebrated, notably with their inclusion in the Deloitte Technology Fast 50 program in 2023 as one of the fastest-growing tech companies in Turkey.

Their achievement of a significant SaaS milestone, escalating their Annual Recurring Revenue (ARR) from $1M to $10M in just 16 months, sets them on a path to reach $100M in the foreseeable future.

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Their platform is designed to empower SMEs and entrepreneurs, enabling them to start and manage their online stores effortlessly, without needing any technical knowledge. This commitment to simplification and support is shared by their young and dynamic team, averaging 28 years in age, who are relentlessly pushing the boundaries of innovation and excellence.

With the opening of their office in Germany at the end of 2022, they are strategically positioned to become one of the leading platforms in Europe by 2030. This new funding marks a significant step towards accelerating our international expansion. It brings not only excitement but also a reminder of the road ahead.

They are just at the beginning, with a clear vision and much work to do. Together, they aim to enable their users to access new markets, enhance their online sales and productivity, and adapt to the rapidly evolving business landscape.

About Ikas

Ikas is an, german based, innovative e-commerce platform made specifically for small companies. They assist SMBs in having excellent back-end capabilities that are ready to use right out of the box in addition to blazing-fast storefronts.