Getir raises $768 million in Series E funding at $11.8 billion valuation
Ultrafast grocery convenience company approaches 40 million downloads in nine countries
Getir, the pioneer of ultrafast grocery delivery, announced today the close of its $768 million Series E funding round, bringing the company's valuation to $11.8 billion and cementing its position as a decacorn.
Photo by Paolo Feser on Unsplash
Led by Mubadala Investment Company, the round included Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global as major investors. With this latest investment, Getir becomes Europe's first grocery delivery decacorn, having raised $2 billion to date.
Since January 2021, Getir has been successfully realizing its ambitious expansion plans across Europe and the US, now reaching a total network of over 1,100 g-stores and close to 40 million app downloads across 9 countries, delivering almost one million orders daily. The latest investment will be utilized to further support Getir's rapid growth within the countries in which it operates, while solidifying its position as leader in the category it created.
"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.
"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.
As of today, Getir has operations across three continents, delivering to customers in nine different countries. Founded in Turkey, Getir has expanded its operations to the United Kingdom, Germany, France, Italy, Spain, Netherlands, Portugal and most recently the United States. Getir operates in all 81 cities in Turkey and 48 cities across Europe and the US.
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