The Turkish delivery service for grocery items Getir has raised $550 million in new funding - tripling its valuation at a whopping $7.5 billion, including the new capital, three months after its last funding.
Getir has now raised $1 billion over three funding rounds in 2021. In the May funding round, the firm was last privately valued at $2.6 billion. It has now opened 28 delivery hubs in London and is planning to expand in Paris, Berlin, and Amsterdam this month.
“Getir’s business model can work wherever there is pizza delivered” - Nazim Salur, founder of Getir, said in a statement Friday. “We came up with the idea when everybody thought this was a silly idea,” Salur said. “We believed in it, put in blood and tears for many years. Now, so many are putting money after it. We are not a spoilt Silicon Valley start-up with lots of money to trash away,” he said. He also predicts that in less than 10 years, more than half of grocery ordering will go online all over the world.
“There are at least a couple of thousand details to our business and the clones think there is a couple of hundred,” he said. “We have the most knowledge and the most data. We are a long-term grocery play,” said Salur.
“We will win the hearts and minds of people with 10 minutes, get under your skin, and then later if people need more from us, we can diversify our offerings.”
“Scheduled delivery is BlackBerry,” said Salur. “We are the iPhone.”
