Following its Asset-Backed Securities (ABS) issuances in the agriculture, automotive, chemicals, and retail sectors, PASHA Bank is now carrying out an ABS issuance worth TRY 100 million for WorqCompany’s revenue-sharing commerce model tailored to e-commerce sellers. The issuance stands out with an average simple interest yield of 53.80% and an average maturity of 69 days.
Since 2020, PASHA Bank has been providing investors with innovative solutions to their financial needs through ABS issuances as an alternative investment instrument. After this year’s earlier issuances in agriculture and automotive, the bank now brings its expertise to a revenue-sharing commerce model for e-commerce sellers. This TRY 100 million issuance for WorqCompany, realized in collaboration with Türkiye Securitization Company (TMKŞ) and OMG Capital Advisors, offers an average simple interest rate of 53.80% and a 69-day maturity. The issuance, rated AA+ (National Long-Term) by Saha Corporate Governance and Credit Rating, is backed by receivables generated from products WorqCompany has procured in advance on behalf of e-commerce sellers.
Commenting on the issuance, PASHA Bank CEO H. Cenk Eynehan stated:
“Since 2020, PASHA Bank has brought capital markets together with the real sector through ABS issuances in a variety of fields, from agriculture to automotive, retail to chemicals, creating over TRY 6.5 billion in funding for the real sector since 2020. For 2025, our target is to reach TRY 5 billion in ABS issuance volume. As PASHA Bank, we will continue to support and grow the Turkish economy both through loans and capital markets products.”
WorqCompany is Türkiye’s first and only revenue-sharing e-commerce model in which the company itself undertakes the purchase of inventory for sellers, allowing sellers to focus solely on sales and share the revenue. This model enables sellers to maintain their operations without disrupting their cash flow. As of 2025, WorqCompany has also become active in the UK market. This move represents the first stage in the company’s strategy to scale its revenue-sharing model globally, beyond just Türkiye.