09.04.2025 16:26
Turkey's leading e-commerce platforms continue to attract the interest of foreign investors. Following the acquisition of Hepsiburada by the Kazakhstan-based technology company Kaspi.kz in recent months, an application has now been submitted to the Competition Authority for the sale of N11 to the UAE-based DMSF Holding. This means that this site will change hands for the third time in three years.
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A new era has begun for N11, one of Turkey's leading e-commerce platforms. DMSF Holding, based in the United Arab Emirates, has applied to the Competition Authority to acquire all of N11 Electronic Commerce and Information Services Inc. The notification regarding the sale transaction was published on the Competition Authority's website.
THREE SALES IN THREE YEARS
Founded in 2013 as a joint venture between Doğuş Group and South Korea's SK Group, N11 was acquired by Getir in June 2023. Subsequently, with Getir's largest investor Mubadala taking over the company's management, the platform's shares were transferred in 2024 to Borançılı Technology, owned by one of Getir's founders, Serkan Borançılı. With the new application, N11 will have changed hands for the third time in three years.
DMSF Holding, which has taken action to acquire N11, operates as a diversified investment company based in Abu Dhabi. The company is active in many sectors, including retail, logistics, storage, and real estate development, in addition to export and import. The holding continues to grow in both local and global markets, expanding its presence through strategic partnerships.
FOREIGN INVESTMENT IN E-COMMERCE IS INCREASING
The process of transferring N11 has once again brought to the forefront the increasing foreign interest in Turkey's e-commerce sector. In recent months, the sale of Hepsiburada to Kazakhstan-based Kaspi.kz was completed. With the transfer of N11 to DMSF Holding, the ownership structure of Turkey's digital marketplaces continues to shift in favor of foreign capital.
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