Getir Becomes A Unicorn with $2.6bn Valuation
The pioneer of 10-minute grocery delivery becomes a unicorn after closing its Series C funding round, securing $300mn of new investment, valuing the company at $2.6bn.
Launched five and a half years ago, the company launched in London in January 2021 and is set to expand its operations to Germany, France and the Netherlands in the upcoming months.
26 Mar, 2021, 15:18 ET
ISTANBUL, March 26, 2021 /PRNewswire/ -- Getir, pioneers of ultrafast grocery delivery, have completed a $300mn Series C funding round just two months after finalizing its $128mn Series B round. The Series C round was led by Sequoia Capital and repeat investor Tiger Global. The investment round included 7 out of 8 existing funds.
Istanbul-based Getir have revolutionized the grocery delivery sector and its new valuation of $2.6bn means that it has achieved 'unicorn' status in just 5 and a half years. The latest capital injection will support its exponential growth in Turkey and the UK and its rapid expansion strategy into three more European markets in the coming months.
Getir began its international expansion by entering the UK market in January 2021 by launching in London's Zones 1&2. Within two months Londoners have quickly embraced the service. The tech company also plans to expand into three more European markets - Germany, France, The Netherlands - reaching a total of five markets within six months of its international debut.
"We began in 2015 with the vision to disrupt how people get their groceries. Every month, we deliver a variety of 1,500 products to millions of people in Turkey in an average of 10 minutes. Thanks to the interest in our groundbreaking business model, we had the opportunity to finalize a Series C round only two months after our Series B. We have now raised $300mn and will use the investment for our ambitious European expansion. We are glad to announce that we have become the fastest Turkish unicorn. And in the coming months we will also start operating in Germany, France and the Netherlands. Once the spread of the COVID-19 virus settles we also intend to start operating in Brazil," says Getir Founder, Nazim Salur.
Getir is the ultrafast delivery pioneer. The tech company, based in Istanbul, has revolutionized last-mile delivery with its 10-minute grocery delivery proposition. Getir delivers a selection of 1,500 everyday items to its customers in minutes, 7 days a week, day and night. Getir, which has launched operations in London as of January 2021 also has sub-brands - GetirFood, GetirMore and GetirWater.
Getir is, first and foremost, a technology company that operates in retail and logistics. It was founded in 2015 by Nazım Salur (founder of BiTaksi, Turkey's leading taxi app), Serkan Borançılı (founder of GittiGidiyor which was acquired by eBay in 2011) and Tuncay Tütek (ex-PepsiCo and P&G executive in Europe & the Middle East).
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