Türkiye-based companies, including Trendyol Group, Baykar, Abu Dhabi’s sovereign fund ADQ, and Ant International, have teamed up to establish a fintech platform in Türkiye.

The collaborative effort intends to provide digital financial services within the country. Although the launch remains contingent on regulatory approvals, these firms recently signed an MoU (Memorandum of Understanding) to develop the platform, offering solutions such as digital payments, loans, deposits, investments, and insurance. Specific details regarding the investment amount were not disclosed; however, the companies are dedicated to fulfilling the needs and demands of their partners and clients while promoting economic transformation in a responsible manner.

New Collaborative Initiative

This partnership is aimed at targeting both SMEs (small and medium-sized enterprises) and individual consumers. Leveraging Trendyol’s existing ecommerce infrastructure, Baykar’s advanced AI and cybersecurity tools, and Ant International’s financial technology expertise, the venture seeks to create a fintech platform uniquely suited for Türkiye. The project prioritizes domestic infrastructure to ensure high security standards.

Alibaba Group, as Trendyol’s principal investor, sees this collaboration as evidence of interest in Turkey’s digital economy. ADQ highlights significant potential for growth in the country’s tech sector due to its thriving population of technology-savvy individuals. Ant International also believes that Türkiye can become a substantial market given its large and digitally engaged populace.

With the support of AI, ecommerce, and fintech knowledge from their partners, this new venture aims to enhance the efficiency of financial transactions for both individual users and SMEs across Türkiye, within and beyond the Trendyol ecosystem. The platform will be developed by integrating local AI and fintech innovations and is expected to launch in the coming months after obtaining necessary approvals.

Access to smart, user-friendly digital financial services for individuals and corporate customers can significantly boost daily activities and contribute to sustainable growth of both the economy and the financial system in Türkiye.