Fast delivery startup Getir closes funding round with $12 billion valuation

Employee of Turkish fast grocery-delivery company Getir rides to deliver an online grocery delivery in Istanbul
FILE PHOTO: An employee of Turkish fast grocery-delivery company Getir rides to deliver an online grocery delivery in Istanbul, Turkey November 12, 2021. REUTERS/Umit Bektas

March 17, 2022

ISTANBUL (Reuters) – Turkish fast delivery company Getir has closed a $768 million funding round, valuing the company at around $12 billion, a few months after it expanded to the United States, the company said on Thursday.

The series E funding round was led by Mubadala. Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global participated in the funding round as major investors.

“This investment will enable us to further develop our proposition and technology, as well as… to continue to attract the best talent,” Getir founder Nazim Salur said in a statement.

Founded in 2015, Istanbul-based Getir pioneered the category of 10-minute delivery for customers who order by smartphone app, with riders fanning out from neighbourhood warehouses that stock essential groceries.

The company operates in 48 cities across seven European countries, the United States as well as all major cities in its home country.

Getir attracted around $1 billion in three funding rounds last year, with the last one valuing the company at more than $7.5 billion.

(Reporting by Can Sezer; Editing by Daren Butler, Alexandra Hudson)