Rapid grocery delivery firm Getir is to continue its rollout across Europe and prepare for expansion into the US after concluding its latest Series D funding round that raised over $550m.
Backed by existing investors including Tiger Global and Sequoia Capital, the Turkish firm will now add a number of global, blue-chip investors including Silver Lake, DisruptAD, and Mubadala Investment Company.
This marks Getir’s third round of investment in 2021, with nearly $1bn raised since the beginning of the year. The company is now valued at over $7.5bn, making it worth more than the likes of Morrisons and Marks & Spencer.
Following an international launch in London in January and starting its operations in Amsterdam in May, Getir is stepping up its European operations with couriers set to hit the road in Paris and Berlin in the next few weeks.
Following the latest capital injection, several cities in the US are also now on the roster to follow by the fourth quarter this year as Getir expands into the country.
Getir has been one of the pioneers in last-mile delivery with its proposition offering a selection of 1,500 everyday items for delivery in as little as 10 minutes.
“Our model and approach to ultrafast delivery is thriving and this latest round of funding further enables us to deliver our best-in-class service to new customers in Europe, the United States and beyond,” said Nazim Salur, Founder of Getir.
“There is great appetite for Getir and rapid grocery delivery. As the pioneers of the market, we continue to stand out by constantly innovating to provide the industry standard.”
At the end of last month, Tesco took on the numerous start-ups in the on-demand grocery market with the launch of its own rapid delivery service called Whoosh.
NAM Implications:
- Another ‘now how did that happen’ moments…?
- …offering a selection of 1,500 everyday items for delivery in as little as 10 minutes.
- A new standard in fulfilment…
- …and better to be on board…
- …than playing catchup later?
