Announced
Completed
Financials
Tags
Acquisition
fintech solutions
Private
Private Equity
Turkey
FinTech
Friendly
Single Bidder
Cross Border
Completed
Majority
Synopsis
PayU, the fintech arm of Naspers Group, completed the acquisition of Iyzico, a Turkish fintech company, from Vostok Emerging Finance, an investment company that invests in early and growth-stage fintech companies, for $165m. “iyzico represents a benchmark investment and exit for VEF. Since our initial investment, iyzico has been one of our cornerstone holdings, a strong driver of our NAV growth and a company that set the investment bar by which we measure all potential investments. The investment and the company’s delivery is a great example, and indeed vindication, of why we started Vostok Emerging Finance and what we are looking to achieve through our investment strategy - creating value for shareholders by backing winning fintech companies and strong entrepreneurs across emerging and frontier markets," Dave Nangle, Vostok Emerging Finance’s Managing Director.
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