Trendyol inks deal with Baykar, ADQ and Ant International for next-generation fintech platform

Türkiye's leading e-commerce platform Trendyol Group, the world's largest unmanned aerial vehicle manufacturer Baykar, active sovereign investor ADQ and leading global digital payments and financial technology provider Ant International signed a memorandum of understanding (MoU) on Wednesday for formation of a strategic venture aimed at developing a next-generation fintech platform for the Turkish market.

"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 Caglayan Cetin, president of Trendyol Group, Erdem Inan, Trendyol Group CEO, 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 initiative, which will be established by integrating artificial intelligence and financial technologies to be developed in Türkiye, will facilitate the access of individuals and small businesses to finance.

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," Cetin 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," Cetin added.

Bayraktar said 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 cyber security competence with Trendyol's e-commerce experience and Ant's global know-how 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 this strategic cooperation, which is a proof of their confidence in Türkiye, will bring a very 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 has a very valuable place for global digital ecosystems with its young and digitalization-oriented population and 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.