Istanbul-based retail and consumer brands-focus on headless commerce platforms Akinon Raised $ 20 million in a Series B funding round. Based on an API-first architecture, the company helps SMEs and large clients streamline retail sales both online and in-store, providing support for orders, user experience, and customer data. The new funds will be used to increase competitiveness on a global scale, especially by pushing to MENA, Eastern Europe and Asian markets. To date, the company has raised $ 25 million.
In Turkey’s domestic market, Akinon has about half of the top 100 retailers such as Lacoste, Marks & Spencer, Sephora and Gap, and a number of additional partners in 17 European countries including Russia, Ukraine, Poland and Hungary. Are counting. Czech Republic, and Greece.
Operated on a commission-based structure, Akinon generated revenue based on the total commercial value of its clients and managed $ 315 million in GMV in 2020. This represents an execution rate of more than 150% year-on-year. According to company representatives, this is the number they intend to increase to over $ 1 billion in 2022.
Co-founder and CEO salary increase Torugatari “We will continue to work hard with a strong team of 400 people and we plan to double that number in 2022. Our goal is to establish and work with local partners in new areas. By expanding, we will double next year’s earnings. “
“We are just the beginning of a cloud-based commerce platform revolution. We believe Akinon has the technology and experience to become one of the world leaders in its segment. With this new capital round, we are international. We can further expand our localization and services to global companies, “concludes the founding partner of SmartFin Capital. Jurgen Ingels..
https://tech.eu/brief/headless-commerce-platform-akinon-raises-20-million/ Headless Commerce Platform Akinon Raises $ 20 Million – Tech.eu