Retail

Getir rides speedy grocery delivery craze to a $7.5 billion valuation

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A Getir scooter in London.

Getir

LONDON — Turkish grocery delivery start-up Getir has raised $550 million in a new investment round, valuing the company at a whopping $7.5 billion.

The Istanbul-based firm raised the fresh cash from the likes of Silver Lake, Mubadala, Sequoia and Tiger Global. Getir has now raised almost $1 billion over three separate funding rounds so far in 2021. The company was last privately valued at $2.6 billion in a May funding round.

It is the latest sign of frenzied venture investment in the red-hot speedy grocery delivery space. Apps that promise groceries shipped to customers’ doors in just 10 minutes have cropped up across Europe, with a raft of companies from…



Source cnbc.com

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