Getir, an Istanbul-based ultrafast grocery delivery company, announced that it has secured a $768M in a Series E funding round, bringing valuation to $11.8B.
The round was led by Mubadala Investment Company, with participation from Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital, and Tiger Global. To date, the Turkish company has raised $2B in funding.
How will the funding be used?
With the Series E funding, Getir becomes Europe’s first grocery delivery decacorn. The latest investment will enable Getir to accelerate growth within the countries in which it operates.
“We are defining the ultrafast delivery sector, and this latest round of funding is a testament to Getir’s position as an industry pioneer. In such an exciting and competitive market we cannot afford to stand still. This investment will enable us to further develop our proposition and technology, as well as invest in our employees to continue to attract the best talent” says Nazim Salur, Founder of Getir.
Getir’s growth figures
Since January 2021, the grocery delivery company has successfully expanded its operations across Europe and the US.
Getir has operations across three continents, delivering to customers in nine different countries – the United Kingdom, Germany, France, Italy, Spain, Netherlands, Portugal, and United States.
Citywise, Getir operates in all 81 cities in Turkey and 48 cities across Europe and the US.
Further, the company is now reaching over 1,100 g-stores and close to 40M app downloads across nine countries, delivering almost 1M orders daily.
Groceries within 10 minutes
Founded by Nazim Salur, Serkan Borancili, and Tuncay Tütek, Getir has been revolutionising delivery services since 2015, with its proposition to deliver groceries within 10 minutes.
Getir’s delivery model and emphasis on fast service help people save time on grocery shopping so they can focus on what matters to them.
Currently, the company offers some 2,000 everyday supermarket products, from chocolate to water, from dairy to cleaning products, and from chips to pet food – all delivered in minutes.
In addition to the grocery delivery, Getir is also known for offering industry-leading working conditions, including full-time positions and associated benefits for couriers and packers.
Keeping safety as a top priority, couriers are provided with e-bikes and e-scooters, as well as helmets and protective equipment of the highest quality.
“Groceries represent one of the largest offline to online opportunities globally, led by fast-changing consumer habits which have accelerated online purchasing adoption. We believe Getir will continue to prove to be an industry leader as it expands into new categories and geographies. We remain impressed by management’s ability to enter new markets whilst providing an exceptional customer experience. We are proud to continue our partnership with Getir as it embarks on the next phase of its growth.” says Ibrahim Ajami, Head of Ventures and Growth at Mubadala.
