Turkey’s first decacorn raises $1.5 billion

Trendyol, a Turkish e-commerce system, has raised $1.5 billion in a huge funding round, valuing the corporation at $16.5 billion.

Trendyol is a technology corporation that offers its clients and partners an e-commerce expertise. It aims to provide individuals with the best experience possible when purchasing what they want and when they want it.

Recent News

The round was co-led by General Atlantic, SoftBank Vision Fund 2, Princeville Capital, and self-governing wealth funds ADQ (UAE) and Qatar Investment Authority. SoftBank’s first transaction in the nation. Trendyol is now Turkey’s first decacorn and one of Europe’s most valuable corporate technology companies, due to the recent funding. It emerged just months after tactical and major portion funder Alibaba decided to invest $350 million in the corporation, valuing it at $9.4 billion. Trendyol founder Demet Suzan Mutlu claimed that the new funds will be used to expand both within Turkey and internationally. In particular, the company intends to keep investing in the country’s infrastructure, future technologies, and logistic support, as well as to accelerate the digitisation of Turkish SMEs. She stated that the company was established to have a beneficial impact and that it plans to remain on that path.

About Trendyol

Trendyol was originally established in 2009 by Demet Suzan Mutlu. The business’s main offices are in the San Francisco Bay Area, West Coast, Western US. The company is still in operation, and its most recent round of financing was through private equity. The corporation ‘s lawful title is Trendyol Group, and its type of business entity is For Profit. The company focuses on E-Commerce, Fashion, Mobile Apps, Shopping. 

Since 2010, their purpose has been to make a positive difference by providing clients and vendors with a smooth e-commerce interaction. The confidence of over 30 million customers and 300,000 sellers catapulted them to become Turkey’s first decacorn and one of the world’s greatest e-commerce systems. It’s in their blood to give back to the neighborhood. They put this into activity by assisting their sellers with digitisation, uplifting local producers, and promoting women’s involvement in the digital economy and manufacturing.

What do they do?

Their ambition is to make fashion affordable to everyone by combining trends and accessibility. Trendyol Collection equates the newest runway patterns into portable outfits for every style, event, and expenditure with their wide assortment of garments, sportswear, and accessories. Their collections include a glitzy party catalog (Trendyol Party), a casual denim selection (Trendyol Denim), clothing style looks (Trendyol Modest), and a full figured collection (Trendyol Curve). With on-trend clothing designs for women, men, and children, Trendyol Collection allows you to adopt your individual style, from relaxed and comfortable to elegant and fashionable. Their Multi-Brand Fashion Online Store in Germany and across Europe provides the most up-to-date catalogs of well-known retail companies such as NA-KD, Converse, in addition to trending fashion products from their brand Trendyol Collection and its adaptable sub-brands.

Previous Funding

Trendyol Group has raised $1.9 billion in financing over six rounds. Their most recent funding came from a Private Equity round on August 9, 2021. Ten investors have contributed to Trendyol Group. The most subsequent shareholders are ADQ and SoftBank Vision Fund. On March 1, 2018, Trendyol Group purchased Dolap. They paid $20 million for Dolap.

Conclusion

Trendyol is a technology corporation that offers its clients and partners an e-commerce expertise. It aims to provide individuals with the best experience possible when purchasing what they want. Trendyol has raised $1.5 billion in a huge funding round, valuing the corporation at $16.5billion.

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