Groupon is no longer active in Greece and Turkey. The American ecommerce company pulled the plug on its operations in these two Southern European countries last week. It’s still not clear why the Greek site is offline now, but Groupon backed down in Turkey because of financial expectations that couldn’t be met.
In Europe, more and more consumers like to pay using their smartphone or tablet. In share of mobile device owners who already have experience with mobile payments, Turkey is the absolute leader in Europe. This is apparent from the latest report by yStats.com, called “Europe Online Payment Methods: First Half 2015”.
The ecommerce volume in Turkey has reached 18.9 billion Turkish liras (6.34 billion euros) last year, after it increased by 35 percent in 2014 compared to the previous year. Ecommerce in Turkey now represents 1.6 percent of all retail business in the European country.
Iyzico has raised a Series B funding of 16.5 million Turkish liras, or 5.74 million euros. The Turkish company, which provides a platform to let ecommerce sites and other apps easily accept online payments, has raised more than 8.5 million euros in total since it was founded three years ago.
The solid and fast-growing ecommerce market in Turkey has got the attention from several investors. The latest one to show interest is the Abraaj Group. This Dubai-based private equity firm purchased a 25% stake in Hepsiburada, Turkey’s largest online retailer. The deal is the latest in a steady stream of online-oriented acquisitions in Turkey.
Annelutfen, a popular Turkish ecommerce site that is focused on the baby and mother market, announced the successful completion of a 4 million dollar investment (€3.35 million) led by Elixir Capital, a Silicon Valley-based private equity fund.
Global investors are looking with increasing interest to the ecommerce industry in Eastern Europe. The growth and trends in this region attracts the attention of international ecommerce players and investors. For example in Turkey, there’s a raised interest of investors, mostly in the clothing sectors.