Türkiye’s leading e-commerce platform, Trendyol Group, drone giant Baykar, Abu Dhabi’s sovereign fund ADQ and Ant International have agreed to explore a potential joint fintech venture offering digital financial services in Türkiye, the companies said on Wednesday.
The four parties signed a memorandum of understanding (MoU) to form a platform that would provide services including digital payments, loans, deposits, investments and insurance. The launch would be subject to regulatory approvals.
"Following approval from the relevant regulatory authorities, this strategic partnership will enable the development of a platform that provides a comprehensive range of integrated financial services, including digital payments, retail and SME (small and medium-sized enterprise) loans, deposits, investment products, and insurance," a statement from Trendyol said.
The signing ceremony was attended by Çağlayan Çetin, President of the Trendyol Group; Erdem Inan, CEO of Trendyol Group; Haluk Bayraktar, CEO of Baykar; Michael Evans, President of Alibaba Group; Mansour AlMulla, Deputy Group CEO of ADQ; and Yi Zhou, CFO of Ant International.
Powered by the world-class AI, e-commerce and fintech expertise of the partners, the new venture aims to enhance the efficiency of financial transactions for individuals and small businesses across Türkiye, both within and beyond the Trendyol ecosystem, according to the statement.
The companies said the platform would target individuals and small businesses, with a particular focus on Trendyol's network of sellers.
"The project aims to combine Trendyol's e-commerce infrastructure, Baykar's AI and cybersecurity tools, and Ant's experience in financial technology," a statement said.
Bayraktar, best known for its top-class drones, said the initiative would rely on domestic infrastructure and aim for high security standards.
The platform is planned to be launched in the coming months following the approval of official institutions.
"We believe this unique alliance will accelerate Türkiye’s digital transformation and set an exemplary model for technology-driven financial solutions," Çetin said.
"Our ambitions are simple: We want to make financial services more accessible initially to our 250,000 SMEs to support their e-commerce and e-export potential with our strong data-analysis capabilities and to continue contributing sustainably and significantly to our country’s economic growth," he added.
Bayraktar stated that Baykar became a stakeholder in this cooperation to provide added value to the field of financial technologies by combining their world-class artificial intelligence and cybersecurity expertise with Trendyol's e-commerce experience and Ant's global knowledge in fintech.
"Through this partnership, we are combining Baykar’s AI solutions and robust infrastructure with Trendyol's extensive user base and fintech experience. With a focus on high standards in risk management and security, we will build a fully domestic fintech infrastructure," Bayraktar said.
Evans said that this strategic cooperation, which is a testament to their confidence in Türkiye, will bring a valuable investment and an innovative financial technology platform to Türkiye.
"We believe that smart, accessible digital financial services offered to individual and corporate customers in Türkiye will not only improve daily life, but also contribute significantly to the sustainable growth of Türkiye’s economy and the development of its financial ecosystem," he added.
AlMulla emphasized that Türkiye's dynamic economy and growing digital environment continue to offer significant opportunities for all sectors.
"This proposed collaboration brings together strong partners with complementary capabilities, reflecting shared interest in advancing innovative financial solutions that support the country’s broader digital transformation," he said.
Yi mentioned that Türkiye holds a valuable place in global digital ecosystems with its young and digitally oriented population, as well as its well-developed e-commerce sector.
"We are excited to work with like-minded partners and develop inclusive digital financial solutions for this vibrant digital economy with our cutting-edge technologies, including AI and blockchain," he said.
