Getir raises $768 million at $11.8 billion valuation

Turkish instant delivery startup Getir has raised a $768 million Series E funding round at a decacorn valuation of $11.8 billion. 

The funding round was led by Mubadala Investment Group, with Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global also participating. With the latest funding round, the company becomes Europe’s first grocery delivery decacorn, having raised $2 billion to date. The company most recently raised $555 million at a valuation of $7.56 billion last June.

Getir, which currently has a total network of 1,100 g-stores, nearly 40 million app downloads in 9 countries, and delivers approximately one million orders per day, operates in three continents and delivers to its customers in nine different countries. 

Founded in Turkey, the company has expanded its operations to the UK, Germany, France, Italy, Spain, the Netherlands, Portugal and most recently the United States. It operates in all 81 cities in Turkey and 48 cities in Europe and the USA.

“We are defining the ultrafast delivery sector and this latest round of funding is a testament to Getir’s position as 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 plans to use the funding to further support the rapid growth of the company in the countries in which it operates and to consolidate its leading position in its category. 

“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.

Written by Sophie Blake

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