Getir Reaches 'Decacorn' Status
Ultrafast grocery delivery platform Getir has raised $768 million in its Series E funding round, bringing the company's valuation to $11.8 billion and cementing its position as a “decacorn” — a company with a value exceeding $10 billion.
The Turkish tech company touts a 10-minute grocery delivery, offering approximately 2,000 everyday items to its customers. Since January 2021, Getir has been successfully realizing its ambitious expansion plans across Europe and the United States, now reaching a total network of more than 1,100 g-stores and close to 40 million app downloads across nine countries, and delivering almost 1 million orders daily. The latest investment will help further support Getir's rapid growth within the countries in which it operates, while solidifying its position as a leader in the category.
"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," said Nazim Salur, founder of Istanbul-based Getir.
Led by Mubadala Investment Co., the latest financing round included Abu Dhabi Growth Fund, Alpha Wave Global, Sequoia Capital and Tiger Global as major investors.
"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," said Ibrahim Ajami, head of ventures and growth at Mubadala.
Founded in 2015 in Turkey, Getir now has operations across three continents and delivers to customers in nine countries. The company operates in all 81 cities of Turkey, and launched operations in the United Kingdom in January and the United States in November 2021, debuting in Chicago, and then later in New York City and Boston. Other countries where the company operates include the Netherlands, Germany, France, Spain, Italy and Portugal.
Online grocery platformInstacart achieved decacorn status in 2020. The company now has a valuation of $39 billion.
