Turkey’s Getir online rapid groceries business raises $555mn in new funding round

Turkey’s Getir online rapid groceries business raises $555mn in new funding round
Getir arrived in Amsterdam in late May.
By Akin Nazli in Belgrade June 6, 2021

Turkish online rapid groceries delivery company Getir has raised $555mn in a funding round that valued the company at over $7.5bn, Reuters reported on June 4.

The deal was led by existing investors including Tiger Global and Sequoia Capital along with Silicon Valley-based Silver Lake, and the United Arab Emirates (UAE) sovereign wealth fund’s DisruptAD and Abu Dhabi sovereign wealth fund’s Mubadala Investment Company.

The company is reportedly planning to come online in Berlin and Paris in June, and in several cities in the US in Q4.

In March, Getir raised $300mn of funding in a financing round, making the enterprise Turkey’s second tech unicorn thanks to its updated valuation at that point of $2.6bn.

In May, Getir went online in Amsterdam. In January, Getir launched operations in London. It plans to go online in Sao Paolo in H2 2021.

Getir, launched in 2015, is also aiming to set up operations in Mexico City.

In April, the Turkish competition board launched a probe looking at 32 companies, including Getir, in relation to the signing of a “gentlemen’s agreement” to prevent workers from moving between companies.

Dismiss