EUR 7 million. investment: Turkish fintech Token Financial Technologies enters the Romanian market through the Odero brand

Token Financial Technologies (TOKEN) – Turkey’s leading provider of digital payment solutions – today announced its venture into the Romanian market through Odero, a brand with a range of payment solutions to suit businesses of all shapes and sizes, both online and offline. An initial investment of EUR 5 million, raised entirely from the company’s resources, is set to increase to EUR 7 million by the end of 2023.

Leveraging innovative and advanced technologies, Token Financial Technologies introduces the idea of ​​a one-stop-shop in Romania for digital payment solutions that are fully integrated, secure, fast and easy to use by any merchant, while developing its own payment-related equipment and units.

“We are entering the Romanian market with two financial solutions: OderoPAY, the cloud platform for online payments, and OderoPOS, the Beko Smart EFT-POS device – and thus we will aim to set new standards in the payment industry. With a long-term plan to offer a wide range of online and offline payment products and services to companies of all sizes in any sector, our aim is to offer them attractive, flexible terms that can be passed on to their customers. In future, offline merchants will be able to take advantage of several different payment devices, such as POS, terminals that combine cash registers and POS in the same device, unattended payment terminals, Soft POS, etc.”, said Kemal Özmen, Chairman of Token Financial Technologies Romania.

Token Financial Technologies is part of the Koç Group, the largest private holding company in Turkiye, present in Romania since 2003 through its Arctic, Beko, Grundig, Ford and Otokar brands, offering a one-stop-shop approach for integrated payment technologies , while developing their own payment-related equipment and devices. Romania marks TOKEN’s first expansion outside of Turkey, and the aim is to eventually cover Eastern Europe, Central Asia and the Middle East

“Over the past 10 years, Romania has established itself as one of the most appealing fintech markets in Europe in terms of its startup ecosystem and its ability to scale up. This is why TOKEN chose Romania as itits first venture outside Turkiye, and this is a significant part of the global development strategy. Moving forward, our plans include expansion into Eastern Europe, Central Asia and the Middle East“, added Kemal Özmen.

With a portfolio of over 800,000 users, Token Financial Technologies is the market leader in payment platforms in Türkiye, surely handling around 4 million transactions every day in this country.

Token Financial Technologies aims through its digital payment products and services to make shopping a pleasant, fast and secure experience for customers, which will help merchants to be more efficient and achieve real benefits for their businesses.