Freshfields advises General Atlantic on its investment in Trendyol
Freshfields Bruckhaus Deringer (‘Freshfields’), has advised General Atlantic, a leading global growth equity investor, on its investment in Trendyol, Turkey’s largest e-commerce platform, in a transaction which was part of a $1.5bn funding round, valuing the company at $16.5bn.
The round was co-led by General Atlantic, SoftBank Vision Fund 2, Princeville Capital and sovereign wealth funds, ADQ (UAE) and Qatar Investment Authority. The Company’s strategic partner and investor Alibaba has also recently invested $350m in March 2021 and is committed to support Trendyol’s continued growth in Turkey and international expansion.
The e-commerce company, founded in 2010 by Demet Mutlu, has benefited from a surge in online buying in Turkey, which jumped 66 per cent last year. Trendyol now serves more than 30 million shoppers and delivers over 1 million packages per day, making it Turkey’s first Decacorn. It has successfully evolved into a super-app, combining its marketplace platform, powered by its own last-mile delivery solution (Trendyol Express), with instant grocery and food delivery through its own courier network (Trendyol Go), its digital wallet (Trendyol Pay), consumer-to-consumer channel (Dolap) and many other services.
General Atlantic has more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to scale innovative businesses around the world.
The Freshfields team is being led by partner Victoria Sigeti, with support from partners Giles Pratt and May Smith, senior associate Ahmad Khokher and associate Hannah Turton.