Getir, a fast-track grocery delivery service, is planning to enter the United States, France and Germany. The company raised more than $550 million in a financing round. Now, Getir is valued at more than $7.5 billion.
Getir is now valued at over $7.5 billion
Getir is currently worth more than the takeaway courier firm Deliveroo, as well as prominent retailers such as Morrisons and Marks & Spencer. This is a rapidly growing industry, and investors are eager to get involved. What Getir does is deliver groceries from “dark stores” in less than 20 minutes.
According to analysts at PitchBook, more than $14 billion has been invested in the market worldwide since the start of 2020.
Despite only operating for less than a year, the German grocery delivery business Gorillas, launched in the UK, is aiming to raise $1 billion in a deal that would value the firm at more than $6 billion.
Similarly, Flink raised $240 million in capital to develop its operations into additional regions.
Services like Getir, Weezy, Gorillas and Flink are seen as some of the biggest winners of the pandemic, because during lockdown times people leaned into shopping from online grocery stores. In the United Kingdom, more than 13% of weekly grocery shopping is now conducted online, a rise from 7% prior to the pandemic’s arrival.
In February, Getir, which has operations in 25 cities of Turkey’s, began operation in the United Kingdom. The business is also running in Amsterdam, with additional locations planned for Birmingham and Manchester in the future. Getir also has aims to begin operation in Bristol, Liverpool and Glasgow by the end of 2021.
The company aims to be operational in US, Germany and France
The company stated on Friday that it would start operations in several US cities by the end of the year and that is expected to launch in Paris and Berlin within the next few weeks.
Nazim Salur, the founder of Getir, stated: “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.”
Getir has already raised $1 billion throughout 2021, with this most recent round coming just three months after it secured $300 million in a deal that valued the firm at $2.6 billion.