Turkey's Trendyol raises $1.5 bln, valuing it at $16.5 billion

The logo of Turkey's leading fashion e-commerce company Trendyol is pictured at the entrance of the company's headquarters in Istanbul, Turkey, June 22, 2016. REUTERS/Murad Sezer, said on Monday it had entered into agreements to raise $1.5 billion from a number of high-profile investors, valuing the company at $16.5 billion.

Trendyol, one of Turkey's best known e-commerce platforms, has drawn backing from foreign investors and holds a leading position in Turkey's fragmented e-commerce market. The round was co-led by General Atlantic, SoftBank Vision Fund 2, as well as Princeville Capital and sovereign wealth funds, ADQ and the Qatar Investment Authority, the company said in a statement.

"The funding proceeds will support Trendyol's growth both within Turkey and internationally," company's founder Demet Suzan Mutlu said. Founded in 2010, Trendyol serves more than 30 million shoppers, delivering more than 1 million packages per day from groceries to clothes.Reporting by Ebru Tuncay and Can Sezer Writing by Daren Butler Editing by Ezgi Erkoyun and Louise HeavensSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

Turkey has biggest potenial with its young and talented population , it is beggining i believe

SonMülteciÇıkanaKadar Haydi Türkiyem birlik olalım yoksa ülkemizde yabancı olacağız bizim gidecek hiçbir yerimiz olmayacak protestoysa protesto eylemse eylem geç olmadan SunatullahSaadatTutuklansın AfganlarıAlmayın paribu

Trendyol always delete negative comments about productions and never care about consumers' complaints.

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