The pioneer of 10-minute grocery delivery becomes a unicorn after closing its Series C funding round, securing $300 million of new investment, valuing the company at $2.6 billion. The Series C round was led by Sequoia Capital and repeat investor Tiger Global. The investment round included 7 out of 8 existing funds.
Istanbul-based Getir have revolutionized the grocery delivery sector and its new valuation of $2.6 billion means that it has achieved unicorn status in just five and a half years. The latest capital injection will support its exponential growth in Turkey and the UK and its rapid expansion strategy into three more European markets in the coming months.
Getir began its international expansion by entering the UK market in January 2021 by launching in London's Zones 1&2. Within two months Londoners have quickly embraced the service. The tech company also plans to expand into three more European markets - Germany, France, The Netherlands - reaching a total of five markets within six months of its international debut.
Getir's vision was to disrupt how people get their groceries. Every month, they deliver a variety of 1,500 products to millions of people in Turkey in an average of 10 minutes. Thanks to the interest in the groundbreaking business model, they finalized a Series C round only two months after the Series B. They are the fastest Turkish unicorn.