Qatar SWF and ADQ Invest in Trendyol
Posted on 08/09/2021
Trendyol is an e-commerce platform based in Turkey. Trendyol is considered one of the first technology unicorns from Turkey. Trendyol raised US$ 1.5 billion in a funding round that values the company at US$ 16.5 billion. General Atlantic, SoftBank Vision Fund 2, Princeville Capital, Qatar Investment Authority, and Abu Dhabi Developmental Holding Company PJSC (ADQ) co-led the investment round.
Earlier, Alibaba invested $350 million in Trendyol at a $9.4 billion valuation.
Demet Mutlu left Harvard Business School in 2010 and founded Trendyol. Trendyol has launched new businesses in line with demands from consumers such as Trendyol Express (logistics), Trendyol Go & Food (instant grocery and meal delivery), Trendyol Wallet (e-wallet) and Dolap (second-hand fashion marketplace).