Getir is already the manager of ghost supermarkets and home delivery groceries higher market value. The company has just closed a Series E funding round of 768 million dollars (695 million euros at the current exchange rate) which places its market valuation at 11,800 million dollars (more than 10,000 million in euros). Thus, this Istanbul-based start-up strengthens its position as decacorn: it is worth ten times more than the 1,000 million that make a technology company Unicorn.
This latest round is led by the sovereign wealth fund of Abu Dhabi, Mubadala Investment Company, which had previously invested in the company. The operation also includes as main investors the Abu Dhabi Growth Fund (ADG), to Alpha Wave Globalto Sequoia already TigerGlobal. Total, getir It has raised $2 billion from venture capital since it was founded in 2015.
“Since January 2021, Getir has successfully carried out its ambitious expansion plans in Europe and the United States, already reaching a total network of more than 1,100 managers and nearly 40 million app downloads in 9 countries, delivering almost one million daily orders”, reviews the company in a statement. “The latest investment will be used to further support Getir’s rapid growth in the countries in which it operates, while consolidating its position as a leader in the category it has created,” he explains.
This chain of ghost supermarkets arrived in Spain in September of last year through Barcelona and Madrid, opening 6 stores in the first city and 13 in the capital. From these centers, small supermarkets closed to the public and strategically placed in the city, the delivery men prepare the customer’s order and start the route to deliver it. With this approach, the company is present in 81 cities in Turkey and in almost fifty United Kingdom, Netherlands, Germany, France, Italy, Portugal and, the last market where it has landed, United States.
industry pioneer
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“We are defining the ultra-fast delivery industry and this latest round of funding is proof of Getir’s position as a pioneer in the industry,” says the company’s founder, Nazim Salur. “In such an exciting and competitive market we cannot afford to stand still: this investment will allow us to further develop our proposition and technology, as well as invest in our employees to continue to attract top talent,” he adds.
“Food products represent one of the biggest offline-to-online opportunities globally, led by rapid changes in consumer habits that have accelerated the adoption of online shopping,” completes Mubadala’s director of business and growth, Ibrahim Ahami. “We believe that Getir will continue to prove itself as an industry leader as it expands into new categories and geographies,” she concludes.