Business Wire

Akinon, a Cloud-Based Headless Commerce Platform Focused on Major Retailers and Consumer Brands, Raised USD 20m in a Series B Funding Round Co-Led by Actera Group and Revo Capital, With Participation From SmartFin Capital and Endeavor Catalyst

Share

Akinon, a cloud-based headless commerce platform focused on major retailers and consumer brands, raised USD 20m in a Series B funding round co-led Actera Group and Revo Capital, with participation from SmartFin Capital and Endeavor Catalyst.

Akinon’s software, with its API first architecture, streamlines retail sales via online channels as well as physical stores, and provides end-to-end support in managing orders, user experience and customer data. As a cloud-based solution provider supporting digital transformation of leading global brands, Akinon has been a sought-after partner for numerous retailers across 17 countries, including Turkey, Russia, Ukraine, Poland, Hungary, Czech Republic, and Greece.

Akinon’s customer base ranges from small-to-medium size enterprises to larger clients with USD 1bn in revenue. At its home market Turkey, company serves around half of the top 100 retailers such as Lacoste, Marks & Spencer, Sephora, and Gap. The company charges a commission based on the gross merchandise value and managed USD 315m in GMV in 2020, growing at a rate of more than 150% year-over-year and plans to increase its annual GMV to more than USD 1bn in 2022.

Series B proceeds will be used to enhance global competitiveness of its services, boost its service quality, and step up its global growth by expanding into MENA, Eastern Europe and Asia.

Akinon co-founder and CEO Tolga Tatari commented on the funding: “We continue to work very hard with our strong team of 400 and plan to double that number in 2022. Our goal is to double our revenue next year by expanding in new regions where we plan to establish and work with local partners.”

The retail sector is on the inflection point in the history of retail where the distinction between online and brick-and-mortar retail has disappeared. More than ever businesses need effective and efficient ways to sell through multiple channels and plan to invest even more in the tools and experiences that will unite their digital and physical operations. Akinon helps its customers make the most of e-commerce enablement at a time when their traditional retail businesses have been disrupted, by dramatically expanding their revenue and market potential.

Tatari and his two co-founders, Ahmet Sari and Cagri Orcan are previously also founders of Markafoni, the leading e-commerce company of Turkey, which was acquired by Naspers in 2014.

Actera Group expressed their excitement: “We are excited to be backing a very experienced team in omnichannel commerce, and be a part of Akinon’s next phase of growth in Turkey and in international markets.”

Revo Capital’s Founding Partner & Managing Director Cenk Bayrakdar commented: “We are big believers in the strength of the management team to execute their vision to revolutionize commerce through its cloud-based omnichannel experience platform with an expanding set of tools and features.”

SmartFin Capital's Founding Partner Jurgen Ingels said: “We are just at the beginning of the cloud-based commerce platform revolution and we believe that Akinon has the technology and the experience to become one of the world leaders in that segment. This new capital round will allow us to increase our internationalization and service even more global companies.”

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Press Contact info:
Zerrin Kirbas
+90 535 776 55 99

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Bentley Education Program Expands to Global Scope25.10.2021 22:01:00 CEST | Press release

Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, as a commitment to expand access to its professional applications to education, today announced the global expansion of the Bentley Education program – offering seamless access to learning licenses of over 60 popular Bentley applications, at no cost, to all eligible students and educators, from middle schools through higher education levels, via the Bentley Education portal. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211025005717/en/ The Bentley Education program helps students develop digital skills that are critical for a qualified talent pipeline to support infrastructure growth and resilience worldwide. (Photo: Business Wire) Following on the initial May 3, 2021 announcement of the launch of Bentley Education in the pilot countries of Australia, the UK, Singapore, Lithuania, and Ireland, the program is gaining a resounding r

X-Chem Acquires ComInnex25.10.2021 20:00:00 CEST | Press release

X-Chem, the pioneer of DNA-encoded library (DEL) technology and recognized leader in generating actionable results to drive small molecule drug discovery, today announced the acquisition of ComInnex, a leading European provider of synthetic chemistry services and novel chemical technologies to support early-stage drug discovery. With demand for high-quality discovery services increasing across the world, this complementary pairing of a North American leader in DEL and medicinal chemistry with a European leader in synthetic chemistry and custom DEL services delivers the capacity, footprint and expertise to better serve the demands of customers in a global market. “As a united company, with an increased global presence, we are positioned to meet the increasing demand for innovative chemistry solutions and high-quality discovery services worldwide,” noted Matt Clark, Ph.D., CEO of X-Chem. “The acquisition of ComInnex further extends X-Chem’s expertise and scale of DEL services to help bio

European Commission Selects Humanigen’s Lenzilumab as One of the 10 Most Promising Treatments for COVID-1925.10.2021 16:30:00 CEST | Press release

Humanigen, Inc. (Nasdaq: HGEN), a clinical-stage biopharmaceutical company focused on preventing and treating an immune hyper-response called ‘cytokine storm’ with its lead drug candidate, lenzilumab, today announced the European Commission identified lenzilumab as one of the “10 most promising treatments for COVID-19” in a report and press release issued on October 22, 2021.1,2 “We are gratified the European Commission has recognized the potential of lenzilumab to offer an important treatment option for patients hospitalized with COVID-19,” said Cameron Durrant, MD, Chairman and CEO, Humanigen. “We look forward to continuing our discussions with colleagues at the European Medicines Agency to advance our efforts to submit a marketing authorization application for lenzilumab in COVID-19. We are also progressing with our early access program, under compassionate use, where allowed by regulations in some European countries and the United States.” *Lenzilumab is not authorized, or approved

Study Finds Overwhelming Evidence That Color Blindness Hinders Learning in School, Reports EnChroma25.10.2021 14:00:00 CEST | Press release

EnChroma – creators of glasses for color blindness – today released the results of a landmark study that clearly demonstrates the negative effect color blindness has on learning for millions of students. The data strongly indicates that schools are failing to identify color blind students and that parents, educators and legislators need to better support these students. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211025005173/en/ Standard Color Vision and Color Blind View @EnChroma In early 2020, nearly 1,000 color blind people, including the parents of color blind children, shared their opinions about how Color Vision Deficiency (CVD) affected their educational experiences. Seventy-eight percent said they were often frustrated or confused by colors in school assignments and activities. One in three say color blindness affected their confidence in school, and 30% felt like they might be a “slow learner” before discovering

Rockefeller Capital Management to Open First International Office in London with the Formation of Rockefeller Asset Management International25.10.2021 14:00:00 CEST | Press release

Rockefeller Asset Management (RAM), a division of Rockefeller Capital Management, with a long track record of investing in global equities and ESG investing has announced the formation of Rockefeller Asset Management International, to expand its European market presence. The initial plans for expansion include opening an office in London, to better serve clients across the UK, Europe, and Asia. “Our Asset Management business has generated real momentum across Europe and we are excited to continue to serve our international clients with a full suite of sustainable investment products and a growing local presence,” said Greg Fleming, CEO and President of Rockefeller Capital Management. RAM, which was recently awarded the 2021 Principles for Responsible Investing (PRI) award for “ESG incorporation initiative of the year,” has seen strong growth in Europe. Over the last two years, the business, which surpassed $2.5 billion in assets from European investors, launched a UCITS ICAV, an Irelan

Ferring Presents Award-Winning, Real-World Outcomes Analysis for Investigational Microbiota-Based Live Biotherapeutic, RBX2660, at ACG 202125.10.2021 14:00:00 CEST | Press release

Ferring Pharmaceuticals and Rebiotix, a Ferring Company, today announced the results of two key retrospective analyses at the American College of Gastroenterology 2021 annual congress. One analysis evaluated the safety and efficacy of investigational RBX2660 among a broad cohort of CDI patients with comorbidities commonly found in patients with CDI, and was recognized with a Presidential Poster Award for high-quality, novel, unique and interesting research. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211025005099/en/ Ferring Fact Sheet While the eligibility criteria in prospective clinical trials often are narrowly defined to include patients diagnosed with only CDI, this analysis allowed researchers to evaluate the impact of RBX2660 in a patient population that is more reflective of a real-world setting. In the analysis, 94 participants with comorbid conditions commonly found in people with recurrent CDI (rCDI) were trea

CAPRISA and Evotec Launch New Project to Fast-Track New Technology for HIV Prevention25.10.2021 13:53:00 CEST | Press release

Today, at a side meeting during the AU-EU Ministerial Summit in Kigali, Rwanda, Prof Salim Abdool Karim, Director of CAPRISA, announced a collaboration with a leading life science company Evotec for the designing and development of CAP256, a broadly neutralizing antibody against HIV. The project is a major expansion of the development of an antibody originally developed jointly by CAPRISA and the Vaccine Research Center (VRC) of the National Institute of Allergy and Infectious Diseases of the US NIH. This new project is a major boost for the CAP256 antibody as a potential tool in the fight against HIV in Africa and showcases the potential of African researchers to fight the continent’s high-burden diseases. The principal aim of the new joint project is to change the course of the HIV epidemic in Africa, which has 70% of the global HIV burden. CAP256, isolated from a South African woman by CAPRISA and the VRC, has demonstrated a good safety profile in Phase I studies. The next step is t

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom