Turkey’s Rapid Delivery Service Getir Eyes $800M

Getir, the Turkish grocery delivery startup, is close to a deal to raise $800 million in a funding round, Bloomberg reported Friday (March 11).

The round comes with a $250 million check from Mubadala, the lead investor.  Abu Dhabi’s state holding company ADQ, Sequoia and Tiger Global were among the other investors. Alpha Wave Global, which was known as Falcon Edge Capital, will join the other investors.

The company’s value now sits at $11.8 billion, according to sources speaking to Bloomberg.

The pandemic has seen a lot of money going towards delivery firms like Flink and Gopuff, in addition to Getir. But since then, food delivery stocks have been doing poorly, with the focus being more on future profitability as people began to go out in public more by 2021.

Getir debuted in 2015, with over $1 billion raised since then.

Read more: Rapid Delivery Startup Getir Targets US Expansion

The company had already been working in New York City, Chicago and Boston. The report notes that the company wanted to expand into more U.S. cities and was looking at going public either in 2022 or 2023.

Getir has around 30,000 employees worldwide, and will be competing with Gopuff along with others like DoorDash if it expands in the U.S.

Nazim Salur, CEO and co-founder, said “one U.S. is equal to all of Europe.”

“A good basketball player, in the end, wants to play in the NBA, and the NBA is in the U.S.,” he said. “We played basketball in Turkey and then the EuroLeague. And now it’s time to show our skills and try to make it in the NBA.”