Turkish food delivery company Getir has said today that is getting out of Portugal, Spain and Italy. The Spain withdrawal has been one of the rumours about the start-up lately as some have suggested the company has been nearing bankruptcy.
In a short but to-the-point statement, Getir announced its withdrawal from the three European countries in ‘an orderly manner’ and that it would continue to operate in UK, the US, Germany, the Netherlands, and Turkey.
The reason it is giving for the exodus is it wants to ‘focus its financial resources on existing markets where the opportunities for operational profitability and sustainable growth are stronger’. It stated that the countries it will remain in already ‘generate 96% of the company’s revenues’.
It also says that it is ‘finalising a funding round’ without expanding on that detail, nor addressing any of the financial issues rumours which have dominated the rumours of the company of late. Sparked after a suggested deal to buy Flink fell through and the company’s withdrawal from France.
TechCrunch is reporting that Getir's previous investor Mubadala has confirmed to them that a financing round is certainly on the table. “Mubadala has been an investor in Getir since 2021. We are currently in advanced discussions with Getir to lead their latest funding round and we continue to work closely with the company in support of its growth in the years ahead,” a spokesperson told TechCrunch.