Getir raises £583m latest funding round

Turkish grocery delivery startup Getir has raised £583 million ($768 million) in its latest Series E funding round, bringing its valuation to £8.96 million ($11.8 billion).

The round was led by Mubadala Investment Company and includes 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.

Getir’s latest investment will be used to support its growth, cementing its position as the leader in this industry.

“We are defining the ultrafast delivery sector and this latest round of funding is a testament to Getir’s position as an industry pioneer,” Getir founder Nazim Salur.

READ MORE: Getir creates 4,000 new jobs as it doubles UK size

“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.”

Mubadala head of ventures Ibrahim Ajami added: “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.”

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