Trendyol in top three in ‘mega-rounds’ list
ISTANBUL
Turkish e-commerce platform Trendyol had the third-largest investment round in Europe in 2021, according to a report by startup news portal Tech.eu.
Trendyol announced a massive $1.5 billion funding round in August, which made it the country’s first decacorn, valued at $16.5 billion, it said.
The round was co-led by General Atlantic, SoftBank Vision Fund 2, Princeville Capital and two sovereign wealth funds, Abu Dhabi Fund for Development and Qatar Investment Authority. The investment marked Japanese giant SoftBank’s first venture deal in Turkey.
Backed by Chinese internet giant Alibaba, Trendyol serves over 30 million customers and delivers more than 1 million packages from groceries to clothes every day.
Swedish energy tech company Northvolt, which makes lithium-ion batteries, topped the Tech.eu’s top 20 startup investment rounds list, raising $2.8 billion in a private placement.
Norway’s Adevinta, the world’s largest online classifieds company, followed with a 10.2 percent stake sale for 1.9 billion euros ($2.2 billion).
“Germany is the absolute leader with eight deals, mostly thanks to its on-demand delivery and fintech industries. [...] Neither Germany nor the U.K. made it to the top three positions, which are occupied by Norway, Turkey and Sweden.”
