Turkish Food Tech Getir Secures $250 Million Investment from Mubadala, Splits Operations to Focus on Turkish Market

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• Getir, a Turkish food delivery company, has secured a $250 million investment led by Abu Dhabi’s Mubadala Investment Co., bringing its total funding to over $1.8 billion.
• Despite substantial financial backing, Getir has struggled internationally, exiting the German market in May and withdrawing from France, Italy, Spain, and Portugal by 2023.
• The latest funding round brings leadership changes, with co-founder and CEO Nazim Salur being replaced by Turkey head Batuhan Gultakan, and a company split into two distinct businesses.
• Mubadala will control Getir’s core food delivery operations in Turkey, while the original founders will manage other assets, including BiTaksi, N11, and FreshDirect.

Getir, a leading Turkish food delivery company, has secured $250 million in investment, led by Abu Dhabi’s Mubadala Investment Co.

Founded in 2015, Getir has raised over $1.8 billion to date, with a notable $768 million Series E round in 2022. Despite this financial backing, the company has faced challenges in its international expansion. 

In May, Getir announced its exit from the German market, leading to the closure of Berlin-based grocery delivery service Gorillas, which it had acquired for €1.1 billion in December 2022. By 2023, Getir had also withdrawn from France, Italy, Spain, and Portugal.

Currently, Getir’s operations are concentrated solely in Turkey, its home market. The latest funding round also brings leadership changes: co-founder and CEO Nazim Salur will be replaced by Turkey head Batuhan Gultakan.

Shareholders have approved a company split. Moving forward, Getir will operate two distinct businesses. 

The core food delivery segment in Turkey will be controlled by Mubadala. Meanwhile, a new entity will manage Getir’s other assets, including its BiTaksi ride-hailing service, N11 shopping platform, jobs board, and US-based FreshDirect grocery business, under the control of the original founders.

“Mubadala has been a long-term and committed investor in Getir, and this capital injection reflects our strong confidence in the promising future of the company’s core business in Turkey,” stated a representative from Mubadala.

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This strategic shift offers Getir a focused opportunity to strengthen its market presence in Turkey and explore potential synergies within the agritech sector, leveraging its delivery infrastructure and technological capabilities.