• July 16, 2024

Hepsiburada’s Debut Asset-Backed Security Offering a Resounding Success

 Hepsiburada’s Debut Asset-Backed Security Offering a Resounding Success

Hepsiburada (NASDAQ: HEPS), the leading e-commerce platform in Turkey, has announced the successful issuance of its inaugural asset-backed security (ABS), raising 150 million TRY (approximately £XX million). This marks a significant milestone for the company as it taps into new funding sources to fuel its growth ambitions.

Digital Innovation Meets Financial Expertise

The ABS issuance is part of a broader 2 billion TRY program approved by the Capital Markets Board for the PASHA Yatırım Bank Hepsiburada Asset Finance Fund. PASHA Bank, a pioneer in ABS issuances, recently launched Turkey’s first digital platform for this type of security, combining its financial expertise with cutting-edge technology.

Hepsiburada’s issuance, comprised of four tranches with varying maturities, was met with overwhelming investor demand, leading to an early closure of the marketing period. The strong interest underscores investor confidence in Hepsiburada’s business model and the burgeoning Turkish e-commerce market.

Fueling Growth and Innovation

The funds raised will be used to bolster Hepsiburada’s Buy Now Pay Later (BNPL) service, a popular payment option among its 63 million members. By expanding BNPL access, Hepsiburada aims to drive further growth in its customer base and transaction volumes while enhancing the overall shopping experience.

Investor Confidence High

The oversubscribed offering attracted a diverse group of investors, including major asset management companies, pension funds, and high-net-worth individuals. This broad-based interest demonstrates the appeal of Hepsiburada’s strong market position and the growing recognition of the potential within the Turkish e-commerce sector.

About Hepsiburada

Hepsiburada is a pioneering force in Turkish e-commerce, offering a vast array of products across 30 categories and providing a range of services, including last-mile delivery, advertising, and payment solutions through its Hepsipay platform. The company is committed to driving digital transformation in Turkey and empowering local businesses, particularly female entrepreneurs.

Key Takeaways:

  • Hepsiburada’s first ABS issuance was a major success, raising 150 million TRY.
  • The strong investor demand signals confidence in the company’s growth strategy.
  • The funds will be used to expand Hepsiburada’s BNPL service and drive further growth.
  • Hepsiburada continues to lead the way in e-commerce innovation and empowerment in Turkey.