The leading e-commerce platform of Turkey, Trendyol, has pocketed $1.5 million from a slew of high-profile investors that takes its valuation to $16.5 billion. The investment was led by a global growth equity firm General Atlantic, SoftBank Vision Fund 2 and Princeville Capital along with sovereign wealth funds including Qatar Investment Authority and ADQ (UAE).
This investment lets Trendyol become the first Decacorn in Turkey. Previously, the company’s strategic investor and partner Alibaba recently pumped in $350 million into Trendyol in March this year. Also, it is committed to support the company’s continued growth in both Turkey and the global markets.
Established in 2010, Trendyol serves over 30 million shoppers and delivers over 1 million packages every day, thereby making it the country’s largest e-commerce company. The company has become a super app by combining its marketplace platform that is powered by its last-mile delivery solution called Trendyol Express, its food and grocery delivery service via its courier network Trendyol Go, the company’s digital wallet called Trendyol Pay and Dolap, its consumer-to-consumer channel with many other services.