RedCloud Signs Joint Venture To Transform $166Bn Turkish FMCG Market
DOHA, Dec. 10, 2025 (GLOBE NEWSWIRE) -- RedCloud Holdings plc (NASDAQ:RCT) ("RedCloud" or the "Company"), the company building intelligent infrastructure for global trade announced and signed its second Joint Venture to deploy RedAI in Türkiye, with a minimum contract value of $5m per year over ten years, to transform the country's $166Bn1 market for Fast Moving Consumer Goods (FMCG). The joint venture agreement was signed on stage at World Summit AI in front of a delegation from the AI Trust Foundation.
RedCloud believes the Turkish FMCG market faces the same systemic inefficiencies and waste seen across the globe, resulting in an estimated $22Bn trillion inventory gap2 in Türkiye, where consumer demand for everyday products is mismatched with inventory and stock, due to outdated practices and lack of aggregated trading data and insight across supply chains.
RedCloud Türkiye, will be headquartered in Istanbul and is expected to launch operations in the first quarter of 2026, deploying the Company's RedAI trading platform and intelligence capabilities with businesses spanning from manufacture to retail. The Company believes RedCloud Türkiye will be able to leverage RedCloud's future global developments in the use of AI and associated supply chain models through RedAI.
"Supply chains are burning $2Tn each year. We are very excited about entering this joint venture to bring AI and algorithmic trading to Turkish supply chains at World Summit AI and in front of a delegation from the AI Trust Foundation," said Justin Floyd, CEO & Co-Founder of RedCloud. "Following the recent announcement and signing of our joint venture in Saudi Arabia this second partnership in the Middle East demonstrates our ability to scale intelligence infrastructure across the world, where AI-powered trading exchange technology, similar to that used on Wall Street, will preen."
Mehmet Bostan, joint venture partner founding CEO of RedCloud Türkiye, added, "Through this partnership, we are deploying state of the art intelligence infrastructure to unlock Turkish supply chains, driving economic growth, resilience, and efficiency. Retailers will gain access to improved supply and choice, while manufacturers and distributors will receive the critical market data and insights necessary to expand, grow market share and profitability. The potential of this AI powered technology is undeniable, and we are eager to begin our transformation of the Turkish FMCG industry."
RedCloud's Justin Floyd is also part of the delegation of the AI Trust Foundation at the World Summit AI, visiting Qatar to advance cross-border collaboration on AI, responsible innovation, and bilateral trade and investment between the United States and its allies, Qatar, and the Middle East Region. "The agreement we are signing today is a great example of how, transformative AI can be deployed to unlock performance of industries and supply chains, benefiting ordinary consumers as well as businesses. Transforming everyday industries to drive prosperity and reduce waste, is perhaps one of the most valuable future applications of this incredible technology," added Floyd in his role as board member of the AI Trust Foundation, and delegation member at the event. "I am delighted to be able to sign this important AI-focused agreement at the event to demonstrate the commercialization of AI technologies."
RedCloud Business Performance and Market Position
RedCloud previously reported full-year 2024 revenue of $46.5 million, representing 135% year-over-year growth, with Total Transaction Value (TTV) of $2.5 billion processed across its platform. In the first half of 2025, the Company more than doubled its active retailer base to 68,089 customers (up 110% YoY) while expanding its distributor network to 1,017 active customers (up 136% YoY).
During 2024, the Company's platform traded 184,731 products from 6,765 FMCG brands and manufacturers across high growth markets (Argentina, Brazil, Nigeria and South Africa) serving independent retailers, small-chain grocery stores, restaurants, and bars in urban markets where supply chain fragmentation creates persistent inventory inefficiencies.
The company has announced that its financial results from H1 2025 will be announced pre-market on December 11 2025, with an earnings conference call shortly afterwards. For details and to sign up to the earnings conference call, please visit https://investors.redcloudtechnology.com.
About RedCloud Holdings plc
RedCloud's mission is to build the intelligence infrastructure of global trade, through generation and aggregation of proprietary trading and market data from across the FMCG industry through its RedAI platform ("RedAI"). RedCloud provides market intelligence based on proprietary trading data across categories in each of its markets. The Company also delivers a ‘trading layer' of products for use by its customers, to enable intelligent digital exchange of everyday consumer supplies of FMCG products across business supply chains, supported by a payments and lending ecosystem intended to streamline trade. RedCloud believes its Platform and associated products and services solve a decades-old problem of how to digitize trade at scale to generate data and intelligence to enable brands, distributors and retailers to maximize business performance across categories in high growth consumer markets.
RedCloud is a British company registered in London, co-founded by British serial entrepreneur Justin Floyd and Algerian born Soumaya Hamzaoui. In March 2025, RedCloud achieved its IPO on New York's Nasdaq stock exchange under the ticker "RCT". For more information about RedCloud and its Platform, please visit www.redcloudtechnology.com and connect on LinkedIn.
Forward-Looking Statements
The information in this press release may include forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or our future financial or operating performance. When used in this press release, words such as "expect," "project," "estimate," "believe," "anticipate," "intend," "plan," "seek," "forecast," "target," "predict," "may," "should," "would," "could," and "will," the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including, but not limited to, the successful execution of its joint venture strategy and launch in Türkiye, or whether the joint venture will be able to generate the targeted revenues over the next five years, the ability to leverage RedCloud's future global developments in the use of AI and associated supply chain models through RedAI, the release of RedCloud's anticipated financial results announcement. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in RedCloud's described in "Cautionary Note Regarding Forward-Looking Statements," "Item 3. Key Information – D. Risk Factors" and "Item 5. Operating and Financial Review and Prospects" in RedCloud's Annual Report on Form 20-F for the year ended December 31, 2024, which was filed with the Securities and Exchange Commission (the "SEC") on May 16, 2025, as well as other documents filed by the Company with the SEC. RedCloud undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Information contained on, or that can be accessed through, the Company's website or any other website or any social media is expressly not incorporated by reference into and is not a part of this press release.
Footnotes:
[1] Estimated $166Bn Turkish FMCG Market 2025: Cognitive Market Research
[2] Estimated $22Bn Turkish Inventory Gap calculated from $2Tn Estimated Global Inventory Gap from IHL Research, applied in proportion to Turkish FMCG Market1 (of $14.6Tn global market).
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