| Founded | 2015 |
|---|---|
| Closed | 2021 |
| Country | Turkey |
| Sector | Fintech |
| Collapse type | Regulatory Kill |
Paytrek
"Turkey's payments consolidation after the iyzico mega-deal left no room for Paytrek."
Forced closure by regulatory action
Key Events Timeline
Paytrek, an Istanbul payments gateway competing with iyzico and PayU, raised $3M but was squeezed out after iyzico's $165M acquisition by PayU in 2019 consolidated the Turkish payments market.
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