WHAT IS TRENDY, OL?
Turkey’s leading online retailer, Trendyol, has agreements to raise $1.5 billion from various renowned investors, valuing the Company at $16.5 billion. Trendyol becomes the nation’s first Decacorn with the help of this new investment. General Atlantic, one of the top global growth equity firms, SoftBank Vision Fund 2*, along with Princeville Capital and sovereign wealth funds ADQ (UAE) and Qatar Investment Authority, co-led the round. Alibaba, the Company’s strategic partner, and investor, recently contributed $350 million in March 2021 and has committed to supporting Trendyol’s continuing growth in Turkey and global expansion.
HOW ITS WORK?
Trendyol’s creator, Demet Suzan Mutlu, stated: “We started Trendyol to have a beneficial influence in the countries we serve. The money raised will aid Trendyol’s expansion both domestically and abroad. Trendyol will continue to invest in national infrastructure, technology, and logistics to advance the digitalization of Turkish SMEs. We are incredibly thrilled to work with influential investors who share our mission.
Evren Ucok, the chairman of Trendyol, added: “Given its young and expanding population and substantial human capital, Turkey has enormous growth potential. To become a dominant force in EMEA and open up new export markets for Turkish manufacturers and merchants, we will take advantage of Turkey’s strengths in manufacturing and logistics, as well as our strong team and comprehensive technical skills.
SERVICE ARE PROVIDED BY TRENDY OL?
Consumers in Turkey and around the world benefit from convenience and comfort because of Trendyol’s marketplace concept, which includes everything from grocery delivery to mobile wallets, We believe the Company has the opportunity to accelerate further its already impressive growth in the local and international e-Commerce market. We are excited to collaborate with the Trendyol leadership as they aim to create seamless e-Commerce experiences for users and sellers while making a good effect, drawing on our experience assisting in scaling creative models around the world.
Anthony Does, Partner at SoftBank Investment Advisers, said: “Trendyol effectively blends e-commerce, payments, and delivery with deep industry understanding in categories like fashion and a unique consumer product that caters to consumers’ needs.”we believe will be highly scalable across new markets and geographies.We are thrilled to work with Trendyol as an investor in e-Commerce platforms worldwide and look forward to supporting the Company as it becomes one of EMEA’s up-and-coming digital champions.
Managing Partner of Princeville Capital Emmanuel DeSousa stated that “excellent management teams produce exceptional fantastic technology companies.” We are excited to work with the outstanding Trendyol team to realize the Company’s mission in Turkey and throughout EMEA as investors in leading e-Commerce enterprises worldwide, specifically across EMEA.
PROGRESS OF TRENDY OL?
With more than 30 million customers served and more than 1 million goods sent each day, Trendyol, Turkey’s largest e-commerce company, was founded in 2010. The marketplace app Trendyol has successfully developed into a super-app by combining its marketplace platform, which is powered by its last-mile delivery solution (Trendyol Express), with instant grocery and food delivery through its courier network (Trendyol Go), its digital wallet (Trendyol Pay), consumer-to-consumer channel (Dolap), and many other services.
Citi served as the transaction’s sole financial advisor and placement agent for Trendyol.
*As of the publication date of this news release, SoftBank Group Corp. has made capital commitments to enable SoftBank Vision Fund 2 (“SVF 2”) investments in a select group of portfolio firms.It does not represent an offer to buy or a solicitation of an offer to sell limited partnership interests in any fund, including SVF 2. SVF 2 has not yet had an external close, and any prospective third parties interested in investing will be given more details about any investments in SVF 2 before closing.