Türkiye based e commerce giant Trendyol Group has signed a memorandum of understanding with Baykar, Abu Dhabi’s sovereign wealth fund ADQ, and Ant International to establish a new fintech venture in the Turkish market.
Joint fintech venture
The proposed platform will offer a wide range of digital financial services, including payments, retail and SME lending, deposits, investment products, and insurance. According to the statement, the services will primarily target individuals and small businesses, with a strong focus on Trendyol’s extensive network of sellers.
Baykar CEO Haluk Bayraktar said the initiative will be built on domestic infrastructure and will prioritize high standards of cybersecurity and risk management.
“Through this partnership, we are combining Baykar’s artificial intelligence capabilities and robust infrastructure with Trendyol’s large user base and fintech expertise,” Bayraktar said.
The platform will integrate advanced AI technologies and locally developed digital finance tools to improve access to financial services for individuals and SMEs. It is expected to serve around 250,000 small and medium-sized enterprises, supporting their participation in e-commerce and cross-border trade through data-driven solutions.
The launch is expected in the coming months, subject to regulatory approvals.
ADQ’s presence in Türkiye
In 2022, ADQ and the Türkiye Wealth Fund jointly launched the Türkiye Technology Fund, which invests in venture capital funds and high-growth startups across the country. The fund focuses on companies developing technologies in sectors such as energy, healthcare, agriculture, logistics, financial services, and education.
The new fintech initiative builds on the UAE’s broader strategy to support strategic investments in Türkiye, targeting startups with innovative business models and strong growth potential.
