Getir

Getir was a Turkish quick commerce startup founded in 2015 that promised ultrafast grocery delivery in minutes.²¹¹ The company expanded aggressively into the US, UK, and Europe during the pandemic, raising over $2.3 billion and reaching a valuation of nearly $12 billion in 2022.²¹¹ In April 2024, Getir announced it would shut down operations in the US, UK, and Europe to focus solely on Turkey, impacting at least 6,000 jobs.²

Timeline

Money raised

Getir raised a $4 million convertible note in December 2017 from Revo Capital.¹⁰ Getir raised a $38 million Series A in January 2020 led by Michael Moritz.¹⁰ Getir raised a $128 million Series B in January 2021 at an $850 million valuation, led by Base Partners and Crankstart Foundation.¹⁰¹² Getir raised a $300 million Series C in March 2021 at a $2.6 billion valuation, led by Sequoia Capital and Tiger Global.¹⁰ Getir raised a $555 million Series D in June 2021 at a valuation over $7.5 billion, with participation from Silver Lake, DisruptAD, Mubadala, and others.¹⁰ Getir raised a $768 million Series E in March 2022 at an $11.8 billion valuation, led by Mubadala.¹⁰¹¹ Getir raised a $500 million Series F in September 2023 at a $2.5 billion valuation, led by Mubadala.¹⁰¹³ Getir raised a $250 million Series G in June 2024 led by Mubadala.¹⁰ Getir's total disclosed funding was at least $2.543 billion.¹⁰

Investors named in the sources: Mubadala Investment Company¹⁰¹¹, Tiger Global Management¹⁰¹¹, Sequoia Capital¹⁰¹¹, Michael Moritz / Crankstart¹⁰¹², Silver Lake¹⁰, Base Partners¹⁰¹², Revo Capital¹⁰, Goodwater Capital¹⁰¹², G Squared²¹⁰, Abu Dhabi Growth Fund (ADG)¹⁰¹¹, Alpha Wave Global¹⁰¹¹, DisruptAD¹⁰, Winter Capital Partners¹⁰, Rockstone Ventures¹⁰, Esas Holding¹⁰¹², Finberg¹⁰¹², Fiba Holding¹².

What happened

Getir was founded in Istanbul in 2015 by Nazim Salur, Serkan Borancili, and Tuncay Tutek.¹¹ Getir pioneered ultrafast grocery delivery, promising delivery of everyday essentials in minutes via a network of dark stores.²¹⁰ Getir initially operated in Turkey and expanded to the UK in January 2021, the Netherlands in May 2021, Germany and France in June 2021, Spain and Italy in September 2021, Portugal in October 2021, and the US in November 2021.¹¹ Getir raised significant venture funding, including a $128 million Series B in January 2021 at an $850 million valuation.¹⁰¹² In March 2022, Getir raised a $768 million Series E at an $11.8 billion valuation, becoming Europe's first grocery delivery decacorn.¹⁰¹¹

Getir acquired rival Gorillas for £1.2 billion in December 2022.²⁵ Getir also acquired FreshDirect in the US in November 2023.² In May 2023, Getir cut 14% of staff and canceled large parts of its geographic expansion plans.² In July 2023, Getir pulled out of Spain, Italy, and Portugal.² Getir laid off at least 2,600 employees in 2023, according to Layoffs.fyi.³

Getir's monthly costs in the US were estimated at $100 million, while the company was not EBITDA positive in any geography as of end of 2023.²³ On April 29, 2024, Getir announced it would shut down operations in the US, UK, and Europe to focus solely on Turkey.² The closures were expected to impact at least 6,000 jobs across the closing markets.² Getir said the closing markets accounted for only 7% of its revenues.² Getir announced a new investment round led by Mubadala and G Squared to focus on Turkey.²

In June 2024, Getir agreed to a restructuring with Mubadala leading a $250 million cash injection and acquiring majority control of its Turkish grocery operations.¹⁷ Under the restructuring, remaining assets including FreshDirect were to be housed in a standalone business with founders having a controlling stake.¹⁷ Getir founders later alleged that only the most unprofitable assets, FreshDirect and n11, were transferred to them.¹⁷ In February 2026, Getir founders sued Mubadala for at least $700 million over alleged breach of the restructuring agreement.¹⁷¹⁸

Legal outcomes

• filedGetir founders Nazim Salur and Serkan Borancili filed a lawsuit against Mubadala Investment Company in London's High Court, claiming at least $700 million in damages for alleged breach of a 2024 restructuring agreement.¹⁷¹⁸

Where the founders are now

Getir co-founders Nazim Salur and Serkan Borancili filed a lawsuit against Mubadala in February 2026 over the break-up of assets.¹⁷¹⁸ Nazim Salur is also the founder of BiTaksi, a ride-hailing company.¹¹¹⁷

Lessons, as others put them

"It's a little bit of a game of chicken. Investors have lost billions at this point."Angela Lee, professor at Columbia Business School, as quoted in Rest of World³

Sources

2. Getir pulls out of US, UK, Europe to focus on Turkey — 6,000+ jobs impacted | TechCrunch, TechCrunch, 2024-04-29
3. Getir bets big on the U.S. even as it bleeds cash, Rest of World, 2023-10-18
5. What Happened To Getir? - Startups.co.uk, Startups.co.uk, 2024-10-31
10. How Much Did Getir Raise? Funding & Key Investors | Clay, clay.com
11. Getir raises $768 million in Series E funding at $11.8 billion valuation, prnewswire.com, 2022-03-17
12. Getir pitch deck to raise $128m Series-B round, Alexander Jarvis, 2021-09-26
13. Getir valuation slashed to $2.5bn as delivery start-up raises ..., ft.com, Sep 8, 202
17. Getir founders sue Mubadala for $700M over assets break-up: Report, Daily Sabah, 2026-02-16
18. Getir founders sue Mubadala for $700mn over break-up of ..., ft.com, Feb 15, 20

How this case file was put together

Every statement on this page carries a numbered note, and every note points to a court record, a regulatory filing or a named publication in the list of sources. Each statement was checked against the text of the sources it cites before it was published: a figure, a date or a name the cited source does not contain was cut rather than kept. Allegations are shown as allegations, with their status at the time of the source (filed, charged, convicted, pleaded, settled, dismissed or pending). Quoted lessons are the words of the person or publication named with them, copied from the cited source; nothing here is our own opinion of why the company failed.

If a fact on this page is wrong, use "Report an error" below and attach the record that shows the correct fact. Every report is reviewed by a person before anything changes, and a corrected page says when it was last corrected.

All case files2024quick commerce