ADQ, Trendyol, Baykar, Ant Near Fintech Platform Launch in Turkey

Abu Dhabi's sovereign fund ADQ, Turkey's Trendyol Group, Baykar CEO Haluk Bayraktar, and China's Ant International have signed a memorandum of understanding to explore launching a new fintech platform in Turkey, pending regulatory approval. The platform aims to provide integrated financial services such as digital payments, loans, deposits, investments, and insurance, primarily targeting individuals and small businesses within Trendyol’s extensive network. This venture will leverage Baykar's AI and cybersecurity expertise, Trendyol's e-commerce infrastructure, and Ant International's fintech experience to enhance financial transaction efficiency and accessibility, with a focus on using domestic infrastructure. The partners believe this collaboration will accelerate Turkey’s digital transformation and create an exemplary model for technology-driven financial solutions, supporting economic growth and the e-commerce potential of around 250,000 SMEs. Turkey's digital economy has shown strong growth, with startup transactions increasing significantly, further motivating this initiative. Financial details of the investment have not been disclosed.