Trendyol Bags $1.5 Billion, Looking for Market Expansion

Trendyol Bags _1.5 Billion_ Looking for Market Expansion-01

Trendyol, a Turkish technology company has recently announced that it has entered into a strategic contract to bag nearly $1.5 billion from several high-profile investors. The firm is backed by Chinese technology giant, Alibaba and with this deal; its value will be $16.5 billion.

The latest funding round was co-led by General Atlantic and SoftBank Vision Fund 2, alongside participation from ADQ (UAE), Princeville Capital, and the Qatar Investment Authority.

Besides, the company offers digital payment, logistics, and e-commerce support services to make it more attractive for the existing clients and consumers. Demet Suzan Mutlu, founder of Trendyol said – “The funding proceeds will support Trendyol’s growth both within Turkey and internationally.”

Source: Reuters

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