Turkish marketplace Trendyol raises 1.3 billion euros
Turkish online marketplace Trendyol has raised 1.3 billion euros ($1.5 billion) in a funding round, valuing the Company at $16.5 Billion.
“We founded Trendyol to create positive impact in the countries we serve. The funding proceeds will support Trendyol’s growth both within Turkey and internationally. In particular, Trendyol will continue its investment in nationwide infrastructure, technology and logistics, accelerate digitalisation of Turkish SMEs. We are very excited to partner with such strong investors who share our vision.”
– Demet Suzan Mutlu, founder, Trendyol
The funding round was co-led by General Atlantic, SoftBank Vision Fund 2, Princeville Capital and sovereign wealth funds, ADQ (UAE) and Qatar Investment Authority.
“Trendyol’s marketplace model, which spans everything from grocery delivery to mobile wallets, brings convenience and ease to consumers in Turkey and internationally,”
“We see real potential for the Company to accelerate its already substantial growth in the regional and global e-Commerce space. Drawing upon our own experience helping to scale innovative models around the world, we are thrilled to partner with the Trendyol leadership as they deliver on their mission to provide customers and sellers with seamless e-Commerce experiences, all while leaving a positive impact.”
– Melis Kahya Akar, Managing Director and Head of Consumer for EMEA at General Atlantic
Earlier in the year they also received a large amount of funding when Alibaba provided the marketplace with an additional investment of $330 million.
Founded in 2010, the marketplace is Turkey’s largest ecommerce company, serving more than 30 million shoppers and delivering more than 1 million packages per day. They have successfully evolved into a super-app, combining its marketplace platform powered by its own last-mile delivery solution, with instant grocery and food delivery through its own courier network, its digital wallet, consumer-to-consumer channel, and many other services.