Trendyol Secures $1.5 Billion, Seeking Market Expansion

Trendyol Secures _1.5 Billion_ Seeking Market Expansion-01

Trendyol, the Turkish technology firm has recently announced that it has entered into a strategic agreement to secure almost $1.5 billion from various high-profile investors. The company is backed by Chinese internet giant, Alibaba and with this deal, its valuing will be $16.5 billion.

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

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

Source: Reuters

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