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Trendyol, Baykar, Ant International, and ADQ Sign Agreement to Explore Fintech Venture in Turkey
Turkish e-commerce platform Trendyol, drone manufacturer Baykar, Chinese financial technology firm Ant International, and Abu Dhabi’s sovereign investment fund ADQ have signed a memorandum of understanding to assess the creation of a joint fintech venture in Turkey.
The planned platform would offer a broad range of digital financial services including payments, deposits, loans, insurance, and investment products. The project is in the early planning stage and remains subject to regulatory approval from Turkish authorities.
According to a joint statement, the venture will focus on serving individuals and small businesses, with special attention given to Trendyol’s base of sellers operating within its e-commerce ecosystem.
Early-Stage Agreement Focuses on Domestic Integration and Security
The four parties have not disclosed a timeline or financial terms for the initiative. However, the memorandum signals a strategic alignment among key regional and international players with varied expertise. The companies stated the platform will seek to operate on domestic infrastructure, with cybersecurity and data protection emphasized in its planning.
Baykar CEO Haluk Bayraktar, a signatory to the agreement, noted that the project will draw from Baykar’s artificial intelligence and security systems. Baykar, known primarily for its role in Turkey’s defense industry, has expanded its focus to include broader technology sectors in recent years.
Target Market: Consumers and Small Businesses
The companies said the proposed platform will prioritize access to financial services for small enterprises and individual users. Trendyol’s seller network—comprising tens of thousands of merchants—will likely serve as a foundational user base.
The aim is to provide a streamlined set of tools that can help merchants manage sales revenue, access credit, process transactions, and protect against financial risk, all within a digital environment.
This aligns with broader industry movements toward embedding financial tools within commerce ecosystems. The platform, if approved, would mark one of the most comprehensive fintech collaborations launched in Turkey to date.
Strategic Partners Bring Complementary Capabilities
Each of the four participants brings distinct expertise to the table. Trendyol operates one of Turkey’s largest e-commerce platforms and has built out logistics, digital marketing, and mobile payment capabilities in recent years.
Baykar’s experience with advanced software and cybersecurity tools is expected to support the technical integrity of the platform. The company has emphasized secure systems and AI-driven architecture in recent civilian and defense-related projects.
Ant International, an affiliate of China's Ant Group, brings deep operational knowledge in mobile payments, digital banking, and cross-border financial services. The company has supported fintech ecosystems in multiple markets and is known for its role in building scalable digital finance solutions.
ADQ, based in the United Arab Emirates, has investments across technology, financial services, and infrastructure. The fund’s involvement signals a continued interest in digital growth sectors within Turkey.
Interest in Turkey’s Digital Finance Market Continues to Grow
Turkey’s expanding internet penetration, mobile usage, and familiarity with digital commerce have made it a focal point for fintech development in the region.
Michael Evans, president of Alibaba Group—Trendyol’s primary shareholder—commented on the significance of the agreement, saying it reflects investor interest in Turkey’s digital economy. ADQ’s deputy CEO, Mansour AlMulla, pointed to long-term growth potential in the country’s financial services sector.
Although no financial details or operational plans have been published, the partners have confirmed that due diligence is underway and that the venture will proceed only after meeting domestic legal and compliance standards.
Pending Regulatory Review
The memorandum signed this week does not constitute a launch or incorporation of the new entity. Turkish regulators will need to review and approve the project before any platform can be made operational.
The companies involved stated that they are prepared to work with authorities to ensure full compliance with financial, data protection, and anti-fraud regulations. While no deadline was provided, early-stage planning is expected to continue in the second half of 2025.
Industry analysts have noted that fintech platforms offering bundled services—such as payments, lending, and insurance—can accelerate financial inclusion and economic participation, particularly among underserved small business owners. The proposed platform would place Turkey among countries where commerce and financial services are increasingly integrated.
Outlook
If regulatory approvals are granted, the venture could become a significant player in Turkey’s evolving fintech sector. The combination of Trendyol’s user base, Baykar’s technical expertise, Ant International’s financial technology experience, and ADQ’s capital resources creates a foundation for a platform designed for wide reach and operational depth.
The development reflects continued interest in building scalable digital finance infrastructure in emerging markets. While the project remains in its exploratory phase, the involvement of high-profile partners and the scope of services under consideration indicate that the venture, if realized, could play a central role in shaping how financial tools are delivered to both consumers and businesses in Turkey.
