Türkiye-based Trendyol Group, Baykar, Abu Dhabi’s sovereign fund ADQ and Ant International have partnered to create a fintech platform in Türkiye.
The joint fintech venture aims to offer digital financial services in the country. However, the launch is still subject to regulatory approvals. The companies signed an MoU to form the platform and deliver solutions such as digital payments, loans, deposits, investments and insurance. The companies did not disclose any details about the investment size, but are committed to meeting the ever-evolving needs and demands of their partners and clients while contributing to the transformation of the country’s economy in a compliant and responsible manner.
New shared venture
The four companies mentioned that the partnership will target SMEs and individuals, focusing on Trendyol’s network of sellers. The project will combine Trendyol’s ecommerce infrastructure, Baykar’s AI and cybersecurity tools, and Ant International’s expertise in financial technology to create a fintech in Türkiye. The initiative will rely on domestic infrastructure, aiming to implement high security standards.
Alibaba Group, Trendyol’s main investor, mentioned that the partnership reflects interest in the country’s digital economy, while ADQ said that the growth in the country’s digital sector has significant potential. And International believes that Türkiye’s large and digitally-savvy active population contribute to transforming the country into a significant market.
Powered by the AI, ecommerce, and fintech expertise of the partners, the new venture aims to optimise the efficiency of financial transactions for individuals and SMEs across Türkiye, both within and beyond the Trendyol ecosystem. The platform will be established by integrating AI and fintechs to be developed in the country and will launch in the upcoming months, pending approval from official institutions.
Smart, accessible digital financial services offered to individuals and corporate customers will improve daily activity and contribute to the country’s sustainable growth when it comes to the economy and development in the financial system.
