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Hepsiburada (NASDAQ: HEPS) reported its Q3 2024 financial results, showing a 10.3% increase in GMV to TRY 42.3 billion and a 1.7% revenue growth to TRY 12,241.6 million. The company achieved positive operating income of TRY 32.4 million for the first time since its IPO, while EBITDA increased by 286.5% to TRY 507.8 million.

Key operational metrics showed improvement with orders increasing by 18.9% to 32.0 million and Active Customers growing by 1.9% to 12.3 million. The Marketplace GMV share reached 70.4%, up from 65.5% in Q3 2023. Notably, Kaspi.kz has agreed to acquire a controlling 65.4% stake in Hepsiburada, subject to closing conditions.

Hepsiburada (NASDAQ: HEPS) has secured five awards at the International Customer Experience Awards, including a Gold Award for 'Customers at the Heart of Everything.' The company's winning project showcased comprehensive customer journey improvements through AI-driven features, diverse payment options, and enhanced delivery processes. Additional recognitions include Silver for Best Use of Customer Insight and Feedback, and Bronze awards in CX Measurement, Technology Use, and CX Team of the Year categories.

Turkish e-commerce platform Hepsiburada (NASDAQ: HEPS) has announced it will release its unaudited financial results for the third quarter ending September 30, 2024, before U.S. market opens on December 10, 2024. The company will host an analyst and investor conference call and live webcast at 16:00 Istanbul / 13:00 London / 8:00 a.m. New York time on the same day. The presentation will be available on the company's investor relations website, and a replay of the webcast will be accessible after the call.

Hepsiburada (NASDAQ: HEPS) announced that its subsidiary Hepsifinans completed its second bond issuance worth TRY 150 million to domestic qualified investors. The bonds have a six-month maturity with quarterly coupon payments at a 51.50% annual interest rate. This issuance is part of Hepsifinans's approved program to issue bonds up to TRY 1.05 billion within one year. The principal will be repaid at maturity, and the funds will be used to grow Hepsifinans's consumer finance business.

Hepsiburada (NASDAQ: HEPS) and Jumia (NYSE: JMIA) have announced a strategic commercial partnership where Hepsiburada will list its private label products and selected retail assortment, along with curated Turkish brands, on Jumia's platform. The collaboration aims to leverage Jumia's extensive reach in North Africa and Hepsiburada's established presence in Türkiye to provide North African consumers with broader access to Turkish products. The partnership focuses on expanding product offerings and enhancing the shopping experience for Jumia's consumers, with potential for broader engagement across key African markets.

Jumia (NYSE:JMIA) and Hepsiburada (NASDAQ:HEPS) have announced a strategic commercial partnership to enhance product offerings for North African consumers. Through this collaboration, Hepsiburada will list its private label products, retail assortment, and selected Turkish brands on Jumia's platform. The partnership aims to combine Jumia's extensive reach in North Africa with Hepsiburada's established presence in Türkiye, providing consumers access to a wider range of authentic Turkish products. This alliance sets the foundation for broader engagement across key African markets where Jumia operates.

Hepsiburada (NASDAQ: HEPS), a leading Turkish e-commerce platform, has announced the first bond issuance of its indirect wholly-owned subsidiary, Hepsifinans. The bonds, issued to domestic qualified investors, have a nominal value of TRY 250 million with a six-month maturity and coupon payments due every three months. The bonds will accrue interest at a rate of 51.50% per annum, with the principal repaid at maturity.

This issuance is part of a larger approval by the Capital Markets Board for Hepsifinans to issue bonds or bills up to TRY 1,050,000,000 within one year. The funds raised will be used to sustainably grow Hepsifinans's consumer finance business.

Hepsiburada (NASDAQ: HEPS), a leading Turkish e-commerce platform, has announced its second issuance of asset-backed securities amounting to TRY 350 million. The issuance, which settled on September 27, 2024, is part of a TRY 2 billion limit approved by the Capital Markets Board for Pasha Yatırım Bank Hepsiburada Varlık Finansmanı Fonu. Hepsiburada participated as the originating entity for its BNPL (Buy Now, Pay Later) receivables.

The issue comprises six tranches with an average maturity of 84 days and an annual average interest rate of 51.00%. Hepsiburada plans to use the funds to sustainably grow its BNPL business and reduce its impact on working capital.

Hepsiburada (NASDAQ: HEPS) has announced changes to its Board Committees' composition and enhanced Risk Committee function. Effective September 21, 2024, the Audit Committee includes Tayfun Bayazıt, Ahmet Ashaboğlu, and Stefan Gross-Selbeck. The Risk Committee comprises Ahmet Ashaboğlu, Tayfun Bayazıt, and Tolga Babalı. The Corporate Governance Committee now includes Hikmet Ersek, Ahmet Ashaboğlu, and Tolga Babalı, with Ersek replacing Bayazıt.

The Board has determined that Ersek, Bayazıt, Ashaboğlu, and Gross-Selbeck qualify as independent directors. All Audit Committee members meet independence requirements and are considered financial experts. Starting in 2025, the Risk Committee will function as an Early Detection of Risk Committee, meeting six times annually and reporting to the Board bimonthly.