Turkish ecommerce platform Hepsiburada was also highly commended for its use of supply chain finance thanks to a win-win merchant financing programme that has delivered concrete benefits to everyone involved.
Hepsiburada teamed up with local fintech Faturalab to design and implement the end-to-end automated programme, which allows merchants to receive payments as early as the same day that they make a sale through the site.
Supplier-centric
Judges praised Hepsiburada for its commitment to meeting the needs of merchants. For example, the programme is embedded in the company’s existing supplier portal, making it easy to use. Merchants can also opt to finance some or all of their receivables, and payments can be made into the bank account of their choice.
Judges were also impressed by the efficiency and transparency of the programme, which allows merchants to seek real-time financing quotes from four banks simultaneously. And if none of the banks is able to make an offer, Hepsiburada can offer back-up financing at similar rates through dynamic discounting.
Win-win
Merchants have benefited so much from the programme that it has enabled many to reduce their selling prices on the site, which in turn has helped Hepsiburada generate double-digit sales growth and protect its large market share in Turkey’s dynamic ecommerce sector. So far, over 6,000 suppliers have been onboarded, with $1.8 billion of invoices uploaded and financed.
The programme has also enabled Hepsiburada to advance its sustainability strategy. Uniquely, it redirects some of the benefits it derives from the programme towards also offering dynamic discounting at reduced, subsidised rates to women-led micro entrepreneurs or merchants that are based in earthquake zones.