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  • Writer's pictureKültepe Yatırım

Kültepe Investment Invested in Shippn, Which Provides Worldwide Shopping Opportunity


Kültepe Investment invested in Shippn

Shippn, which provides customers from 200+ countries with the opportunity to shop from 35 countries, has completed its bridge investment tour. Shippn, managed by Seyfettin Ersen Erol, Levent İlhaner, Enes Güren and Duhan İçöz, received an investment of 547 thousand dollars in the pre-series A bridge investment round led by KT Portföy. APY Ventures, Mindvest GSYF and Lima Next Ventures, which participated in the first round, made follow-up investments in this round; KT Portföy, Kültepe Yatırım, start-up investor Faik Ulutaş and Cem Bahar also participated in the tour.


Tripled its turnover in dollar terms

Shippn, which has tripled its turnover in dollar terms since its first investment round, is a cross-border initiative that enables its users to shop from 35 countries. In the global community created on Shippn, users called Hosts who are registered to the system to use their local addresses are allowed to earn from the system. Using these addresses, Shippn enables its customers to shop from anywhere in the world as if they were ordering to their home address, and to have the products they purchase delivered to their doorstep within 1-5 business days.


Company CEO Duhan İçöz;

“We are enriching this community that we have created with a growth of over 1500% in a period of 2 years. We currently have users registered in our system from more countries than the number of countries that are members of the United Nations. We are expanding a shopping experience without borders day by day through our Hosts, which I can define as our subsidiary warehouses located in 35 countries. We work with the same enthusiasm to deliver every order without any problems. We are one of the leading companies in the world in this business model. With the community marketplace model, we demonstrate that a scalable transformation can be created in a sector that has been left behind in the digitalization process, such as logistics. With the B2B features that we will add to our product soon, we will be able to manage the return processes of exporting companies in 35 countries as well as end users.

We aim to greatly increase our volume with a service that we can manage. We believe that this investment round will make a great contribution to achieving our goals. We have a serious expansion target, especially in the Americas region, where our current volume is high, and in the EMEA region, where we have development potential.

Our plan now until the series A investment round is; “To maximize our company valuation by allocating a budget for growth with our service, which we have already optimized technically and operationally.”

In cross-border e-commerce, which has become a 1 trillion dollar economy used by 1 billion people, rival companies can provide similar services from limited locations through their own warehouses. In this structure, when they want to ensure that products are sent to a different country, they act by taking into account the costs of opening and operating a new warehouse in that country. At this point, a local competition arises among the companies in the sector. Using the power of Shippn Hosts, it maximizes market penetration and minimizes operational costs by providing services from 35+ countries. This Airbnb-like business model differentiates it from its competitors, providing a major competitive advantage.

 

 

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