Ultrafast grocery delivery firm Getir secures $300m in funding

Ultrafast grocery delivery company Getir has completed a $300 million Series C funding round, as it looks to expand its operations to new European markets.

The Istanbul-based company plans to use proceeds from the round – which was led by Sequoia Capital and repeat investor Tiger Global – to support its growth in Turkey and the UK.

Getir entered the UK market in January this year, launching in parts of central London. The technology company offers a ten-minute grocery delivery service with 1,500 everyday items to choose from.

The company – which launched five and a half years ago – says that it has now achieved ‘unicorn’ status after the Series C investment valued the firm at $2.6 billion.

Getir will also use the new funds to support its expansion into Germany, France and the Netherlands in the coming months.

The Series C milestone comes just two months after the tech company finalised a $128 million Series B round.

Getir founder, Nazim Salur, said: “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 ten minutes.

“Thanks to the interest in our groundbreaking business model, we had the opportunity to finalise a Series C round only two months after our Series B.”

He continued: “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.”

Source: Foodbev.com