The funding helps Trendyol achieve a valuation of $16.5B. Here are the top-line bullets you need to know.
Trendyol, a fashion e-commerce company, has raised $1.5B in a Series C. The round drew participation from Qatar Investment Authority, General Atlantic, SoftBank Group, Princeville Global, and ADQ.
HOW’S THE COMPANY PERFORMING?
- Turkey-based Trendyol uses its e-commerce platform to serve over 30M customers, and it delivers over 1M packages every day.
- The company has combined its marketplace platform (powered by Trendyol Express, the company’s last-mile delivery solution) with its instant grocery and food delivery network (Trendyol Go), digital wallet (Trendyol Pay), consumer-to-consumer retail channel (Dolap), and various other services in order to create a “super app”.
WHY DOES THE MARKET MATTER?
- The e-commerce market is growing at a CAGR of 22.9% and is expected to reach $16.2T by 2027, according to Meticulous Research.
- The global fashion industry is expected to reach a valuation of $3T by the end of the decade, according to CB Insights.
- Technological advancements like augmented reality and chatbots have contributed to the industry’s growth.
- Covid-19 has increased the demand for online shopping. At the same time, some customers have found themselves with more disposable income due to restrictions on dining out, travel, and other activities.