Dr Ozan Ozerk’s entrepreneurial journey is a remarkable tale of resilience, vision, and the relentless pursuit of better solutions. From his beginnings as a medical doctor in Norway to becoming a transformative figure in fintech, Ozerk’s story is a masterclass in innovation born out of necessity.
Raised in Norway after emigrating from Cyprus at the age of two, Ozerk’s upbringing straddled cultures and societies. This early exposure to diverse ways of life sparked his innate curiosity and a desire to understand and solve complex challenges. His entrepreneurial spirit was evident even as a teenager. Together with friends, he developed platforms for mobile content like ringtones and horoscopes, eventually pivoting to social media as mobile technology evolved. Their platform quickly became Norway’s largest social network for kids and teens, leading to its acquisition by Egmont, a Danish media company.
It was during these formative years that Ozerk’s interest in payments began to take shape.
“My entry point into payments wasn’t planned,” he explained. “I needed a payment solution for my own e-commerce sites and realised that the challenges I faced were universal.”
From this realisation, OpenPayd was born—a platform designed to simplify global money movement for businesses by reducing friction and cost.
Building Solutions, Breaking Barriers
Ozerk’s approach to entrepreneurship is deeply rooted in his ability to identify gaps and act decisively to fill them. As he built OpenPayd, he encountered a maze of regulatory hurdles and banking constraints. These challenges inspired him to take the bold step of creating his own bank, securing a license in Lithuania. However, the solution only uncovered deeper complexities.
“Running a bank doesn’t eliminate the challenges,” he noted. “It actually amplifies them—particularly in establishing correspondent banking relationships.”
Undeterred, Ozerk expanded his ventures into new areas. He founded Eurotrader and Bitbase to tackle emerging opportunities in cryptocurrency, recognising blockchain’s potential to reshape transactions and information storage. His efforts highlighted the evolving regulatory landscape and the constant need for agility in the face of changing rules.
“Even when you achieve something significant, success isn’t always guaranteed,” he reflected.
Adapting to Global Markets
Ozerk’s ventures are a testament to his ability to adapt. From navigating Turkey’s advanced banking ecosystem to securing 45 state licenses in the challenging U.S. regulatory environment, his businesses have continually expanded their reach. In Turkey, he launched the Ozan Super App, providing an integrated platform for payments, utility services, and more. He praised Turkey’s modern infrastructure, calling it one of the best globally, and noted its potential as a gateway to the Middle East.
Not every venture has been smooth sailing. A foray into Iraq ended abruptly due to geopolitical instability, but Ozerk’s takeaway was one of resilience.
“As a founder, you encounter challenges you never planned for. The key is to stick to your guns and not give up.”
Lessons for Entrepreneurs
Throughout his journey, Ozerk has remained candid about the realities of entrepreneurship.
His advice to fellow founders is simple yet profound: balance persistence with pragmatism.
“It’s a lonely road,” he admitted.
“You’re constantly managing anxieties about funding, competition, and regulations.”
His advice to fellow founders is simple yet profound: balance persistence with pragmatism.
“It’s okay to fail and pivot, but don’t make excuses to give up.”
Ozerk’s medical background has also shaped his outlook.
His early career saw him working grueling shifts in Norway’s emergency rooms while simultaneously exploring opportunities in international markets—a testament to his work ethic and drive.
“As a doctor, you’re trained to diagnose problems and act under pressure. That’s exactly what entrepreneurship demands,” he said.
The Future of Payments
Ozerk’s vision for OpenPayd and his broader ventures is rooted in making the complex world of payments accessible and seamless for businesses. From addressing the intricacies of cross-border transactions to leveraging blockchain’s potential, his work continues to push boundaries.
“The world is more connected than ever,” he said. “We need payment infrastructures that reflect this reality.”
Ozerk’s story is more than one of personal success—it’s a narrative of how curiosity, determination, and a willingness to embrace failure can drive meaningful innovation. For entrepreneurs navigating the fintech space, his journey serves as both inspiration and a reminder that success is built on resilience and adaptability.
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