Getir, a Turkish grocery delivery startup, is nearing an agreement to raise $800 million in a funding round.
Mubadala, the round’s lead investor, has contributed $250 million. Other investors included Abu Dhabi’s state holding company ADQ, Sequoia, and Tiger Global. Alpha Wave Global, formerly Falcon Edge Capital, will join the other investors.
According to Bloomberg, the company’s value has increased to $11.8 billion.
During the pandemic, a lot of money has gone to delivery companies like Flink and Gopuff, in addition to Getir. However, food delivery stocks have performed poorly since then, with the emphasis shifting to future profitability as people begin to go out in public more by 2021.
Getir debuted in 2015 and has raised over $1 billion since then.
New York, Chicago, and Boston are three of the most populous cities in the United States. According to the report, the company wanted to expand into more U.S. cities and was considering going public in 2022 or 2023.
Getir employs approximately 30,000 people worldwide and, if it expands into the United States, will compete with Gopuff as well as others such as DoorDash.
According to Nazim Salur, CEO and co-founder, “one US is equal to all of Europe.”
“In the end, a good basketball player wants to play in the NBA, and the NBA is in the United States,” he explained. “We played basketball in Turkey before moving on to the EuroLeague.” And now it’s time to put our skills on display and try to break into the NBA.”