Getir raised $550 million in new funding backed by DisruptAD and Mubadala Investment Company.
Getir, an Istanbul, Turkey-based operator of an online grocery business, announced the completion of a $550 million capital funding round.
The deal, which is said to value the company at $7.5 billion, was backed by new and existing investors, namely DisruptAD and Mubadala Investment Company, which are both arms of Abu Dhabi sovereign wealth funds, Silicon Valley-based fund Silver Lake, Tiger Global and Sequoia Capital.
The proceeds will be used as the company is looking to aggressively grow operations in Europe and USA.
Getir, founded in 2015 by Arkady Volozh, Doğancan Dalyan, Mert Salur, Nazım Salur, Serkan Borançılı and Tuncay Tütek and established an on-demand consumer delivery business. The company started to become operational in London, UK at the beginning of 2021, where it opened 28 delivery hubs and plans to expand in Amsterdam, Paris and Berlin.
Getir is one of the many online grocery startups from Europe funded by venture money and previously raised a total of almost $500 million, with the last round of $300 million led by Sequoia Capital and Tiger in March 2021.