Trendyol raises $1.5 billion in a round led by General Atlantic and SoftBank Vision Fund 2.

Trendyol, an Istanbul, Turkey operator of an e-commerce company, announced the completion of a $1.5 billion capital funding round.

The money was raised from investors co-led by General Atlantic, SoftBank Vision Fund 2, as well as Princeville Capital and sovereign wealth funds, ADQ (UAE) and the Qatar Investment Authority.

Proceeds will be used for expansion in and outside Turkey.

Trendyol, founded in 2010 by Demet Mutlu, is one of Turkey’s best-known e-commerce platforms and started to be active in Europe in 2020 through a website to serve 27 countries, including Italy, Spain and the UK. The company says it serves more than 30 million shoppers, delivering more than 1 million packages per day from groceries to clothes. It also provides logistics, payment and other support services to make e-commerce more attractive for shoppers.

Trendyol was acquired by Tencent in April 2021 in a $330 million deal.