Trendyol, an Alibaba-backed Turkish e-commerce platform, is reportedly considering raising approximately US$1 billion to aid its growth.

The company has begun exploratory discussions with potential investors for a funding round that might commence as early as the next quarter.

Sources say discussions are in the initial stages, and an agreement may not materialize.

A Trendyol representative provided no comment, and Alibaba Group Holding Ltd., the company’s controlling shareholder, has not responded to related queries.