Turkish on-demand delivery kingpin Getir has raised $128 million at a ∼$850 million valuation, reports Webrazzi, as e-commerce activity and demand for snappy deliveries have spiked in the wake of the coronavirus pandemic, and global competition is heating up fast.
Earlier this month, Bloomberg had reported that the company was close to signing a financing deal of around that size, as the Istanbul-based delivery scale-up gears up for launches in London, and other metropoles such as Sao Paulo and Mexico City.
Getir (which means “bring” in Turkish) was founded in 2015, and offers an on-demand ‘ultrafast’ delivery service for grocery items, in addition to a courier service for restaurant food deliveries, not unlike Glovo, which just this morning announced a €100 million deal with Swiss-based real estate firm Stoneweg.
According to Crunchbase, the startup raised about $42 million before this mega-round, from Sequoia Capital’s Michael Moritz, Revo Capital and Base Partners. The Webrazzi report reveals that its new investors include Tiger Global, Goodwater Capital, Fiba Group and Esas Holding.