TURKISH ON-DEMAND DELIVERY FIRM RECEIVES USD 128M FUNDING

Turkish on-demand delivery pioneer, Getir, has received an additional USD128m in funding from the world’s leading investors. The company’s post-investment value rose to USD 850m with the injection of new funds, which will help it with its exponential growth in Turkey, and for its international expansion, according to a statement released by the startup. The financing, led by existing shareholders Michael Moritz’s Crankstart Investments from Silicon Valley and Brazilian Base Partners, also included New York-based Tiger Global and Goodwater Capital from Silicon Valley as well as Turkish conglomerates Fiba and Esas and Revo Capital. The revenues of the company grew fivefold in 2020 while doubling its national footprint, according to the statement. The company delivers over 1,500 varieties of groceries in Turkey in an average of 10 minutes delivery time, according to Nazim Salur, the CEO of Getir. “Our existing investors doubled down on the potential of Getir, joining new international and domestic
investors to fund local and international growth,” Salur said.