The Turkish fintech Craftgate, specialized in payment orchestration, is betting on Spain as a starting point for its internationalization in Europe and Latin America. Founded in 2020 and based in Istanbul, the startup makes it easier for companies to connect with virtual point-of-sale (POS) terminals of all acquiring banks, as well as with various payment and electronic money entities.
In 2023, the firm processed transactions worth a total of €1 billion, representing a growth of 443%. In the first half of 2024, the volume of payments processed by the company reached 1,180 million euros, 176% more compared to the same period of the previous year. The company’s CEO, Hakan Erdo?an, expects that this year the volume of transactions processed will exceed €3 billion.
With the purpose of gaining projection in Europe, Craftgate has raised two rounds of financing: a first, worth two million dollars in 2020, with investors such as APY Ventures, AKPortföy and Bo?aziçi Ventures, and another in 2022, where raised an additional $1 million investment led by D4 Ventures and Hepsiburada.
To offer its customers a more seamless payment experience, Craftgate offers products such as payment gateway, smart routing system, secure card storage, and recurring payments. In addition, it is finalizing its integration with Redsys, which will allow it to access the majority of acquiring banks in the Spanish market and offer, among others, the popular Bizum payment method.
The company has also announced the appointment of Jorge Sorial as Country Manager of the company in Spain, a manager with more than 25 years of experience in the payment management sector, after developing his career in companies such as Amadeus or Sage.
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