Founded by Seyfettin Ersen Erol, Levent İlhaner and Enes Guren, Shippn received an investment of ₺6.7 million in the investment tour completed under the leadership of APY Ventures.
Active Ventures Mindvest Fund and Lima Next Ventures also participated together with Tura APY Ventures. Shippn, which was funded with equity capital by its founders and reached high turnovers by passing the seed investment stage, completed the tour with a pre-series A investment from 3 Venture Capital.
Under the management of Seyfettin Ersen Erol, Levent Ilhaner, Enes Guren and the CEO of the company, Duhan Icoz, who joined the team 2 years ago, Shippn is a cross-border startup that enables its users to shop from anywhere in the world. In the global community created in Shippn, users who are registered to the system to use their local addresses are allowed to earn profit from the system. Shippn enables its users to shop from anywhere in the world as if they were placing an order at their own address using these addresses, and ensure that the products they purchase are delivered to their doorsteps within 1-5 business days. In other words, when you want to buy a product from any seller in 28 countries that currently have an active Host, it allows you to send your order to the address of the host in that country and reach you, and combine more than one product from more than one seller in one address and get it as a single package.
Company CEO Duhan Icoz said; “We have achieved a growth rate of over 500% in a short time. We serve our users in more than 60 countries through our host located in 28 countries in total. With this investment tour, we aim to take very important steps in terms of scaling our system and to take Shippn to a very different position in terms of turnover and to embark on a series A investment tour in which we will make our name known in the global ecosystem. We have positioned Shippn as a community and we can measure the value created by the strength of the community created. As the community grows, we create a new profession by providing the opportunity to earn a new income for the people who are hosts, and with the increasing number of hosts, we offer our members the chance to easily buy products that are not in their own country or that are sold at high prices, with “unlimited” shopping from more countries. Therefore, we can say that Shippn is an initiative whose scaling will accelerate as its community develops. This investment has given us the opportunity to develop the community we have created.”
In cross-border e-commerce, which has become a $1 trillion economy used by 1 billion people, rival companies work from a fixed local point of origin because they do this business through a warehouse. When they want to do this business from a new country, they act by considering the costs of opening a new warehouse and operating it. At this point, there is a local competition between companies. Using the power of its Shippn hosts, it maximizes its market penetration and provides competitive prices to its users by minimizing its operational costs and using the company’s know-how. This Airbnb-like business model sets it apart from its competitors, providing a huge competitive advantage.
At the same time, Shippn, one of the 12 initiatives selected for the 4th Term of Endeavor Turkiye’s most advanced program, Scale-up, will make a name for itself in 2023.
Source: Egirisim / Translated by Irem Yildiz