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10-minute grocery delivery app Getir to launch in Manchester and Birmingham, raises $550M at $7.5B valuation

Getir

According to research from Capgemini, 56% of UK consumers expect to get online deliveries at least once a week by 2021. The grocery app craze has already taken over with so many players in the space including Weezy, Dija, and even Deliveroo delivering groceries now.

Getir — a Turkish online grocery delivery startup backed by the venture capitalist Michael Moritz — launched its rapid delivery service in London in Feb 2021, has also announced its Series D funding round.

The last-mile 10 mins delivery service now raised over $550 million (nearly £390 million), tripling its valuation to over $7.5 billion (nearly £5.3 billion), just three months after its last funding round of $128M.

DisruptAD and Mubadala join as new investors

Turkey’s most valuable startup raised the latest funding from existing investors including Tiger Global and Sequoia Capital. Also, the Istanbul-based startup added a number of global, blue-chip investors to its kitty, including Silver Lake, DisruptAD, and Mubadala Investment Company and a large, diversified asset manager on the West Coast.

Notably, this is Getir’s third round of investment in 2021, with nearly $1 billion (nearly £0.7 billion) raised so far this year. This investment will continue Getir’s global expansion with couriers set to hit the road in Paris and Berlin in the next few weeks. While several cities in the US are on the roster to follow by Q4 this year.

Worth more than Deliveroo and M&S

Also with the latest valuation, Getir is now already worth more than food delivery apps Deliveroo and Grubhub, along with UK supermarkets WM Morrison and Marks and Spencer.

“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. 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.” said Nazim Salur, Founder of Getir.

Founded in 2015 by Nazim Salur, Serkan Borancili, and Tuncay Tutek, Getir is now operating in 30 cities in Turkey and has launched operations in the UK in January and in the Netherlands in May 2021. The firm also has sub-brands – GetirFood, GetirMore, GetirWater and GetirLocals.

Several cities in the US are on the roster to follow by Q4 this year as Getir expands into the United States. With this, Getir will operate in six countries, further establishing it as the creator of the ultrafast grocery delivery category and setting it up as the benchmark brand in the industry.

To launch in Birmingham and Manchester in coming weeks

Further, for the UK market Getir informed UKTN that after their London launch, the company has plans to expand its operations in Birmingham and Manchester.

Currently, Getir serves 45% of London (predominantly zones 1, 2 & 3), operating from 28 strategically located dark stores. By the end of 2021, they look forward to expanding over 15 cities across the UK, to be operating out of around 90 dark stores. “This starts with our imminent arrival to Manchester and Birmingham in the coming weeks,” says, Turancan Salur, Getir UK General Manager.