Trendyol Group, Baykar CEO Haluk Bayraktar, Abu Dhabi sovereign investor ADQ, and fintech provider Ant International have signed a memorandum of understanding to develop an integrated fintech platform in Türkiye. The initiative aims to offer a suite of financial services, including payments, loans, deposits, investments, and insurance, to individuals and SMEs, particularly those within Trendyol’s extensive seller base.
The proposed venture combines Trendyol’s e‑commerce infrastructure, Baykar’s AI and cybersecurity capabilities, and Ant’s fintech expertise. ADQ joins to supply financing and infrastructure support. The deal remains subject to regulatory approval.
Türkiye is already seeing a surge in fintech investment, with global VC flows into Turkish startups rising to $2.6 billion in 2024, a 500% increase on the previous year. Domestic fintech adoption is also growing: consumer usage of digital payments and embedded financial services is on the rise, accelerated by the pandemic and e‑commerce penetration through platforms like Trendyol.
Trendyol, founded in 2010 and majority-owned by Alibaba, has grown into Türkiye’s top e-commerce player, with significant AI and logistics operations. Baykar is known for military drones but is increasingly recognised for its civilian AI and cybersecurity capabilities. ADQ is a key Abu Dhabi sovereign investor with a mandate across global infrastructure. Ant International, affiliated with Alibaba/Ant Group, brings digital payment and blockchain know‑how.
Trendyol has previously expanded regionally, entering Gulf markets in 2023, and invests in AI and payments with its Trendyol Tech arm. The new fintech venture would mark its first formal move into banking services.
