Getir eyeing fundraise at $12bn valuation

Rapid grocery delivery service Getir is looking to raise fresh capital at a valuation of $12bn, it was reported on Tuesday.

The Turkey-based company was looking to raise more than $1bn, Bloomberg said, to finance its international expansion plans.

Bloomberg, citing a person “with knowledge of the matter” who wanted to remain nameless, said the funding round was launched by Getir’s existing investors.

Companies that had previously backed the grocery deliverer, which took over British start-up Weezy in late 2020, include Mubadala Investment, Sequoia Capital Silver Lake and Tiger Global.

Getir has been in a rapid expansion mode recently, launching in the US markets of Chicago and New York City, and reportedly eyeing up Boston, Massachusetts.

It rolled out its services in a number of European markets in 2021, including France, Germany, Italy, the Netherlands, Portugal and Spain.