This is the Getir pitch deck to raise a $128m series-b round in 2021.
Getir combines urban logistics and mobile technology to provide instant delivery of goods in urban areas. Its application enables its users to order a range of products and pay for them through their credit cards. Once purchased, the goods will be delivered to its users. The application features live tracking, which enables its users to track the location of their orders.
Turkish delivery startup Getir, backed by early Apple investor Michael Moritz, has raised a new funding round to continue its global expansion.
It has raised $128 million of Series B funding at an $850 million valuation, with new investment coming from private equity giant Tiger Global and Monzo-backer Goodwater Capital.
Based in Istanbul and founded in 2015, Getir delivers groceries in as little as 10 minutes and claims to have grown revenues five-fold in 2020.
“2021 will be even better,” Nazim Salur, Getir’s founder and CEO, predicted to Insider. “We have more ammunition now and are good fighters, it will be a pleasure to grow even more.”
Grocery delivery startups are booming. The European grocery retail market is overall expected to be worth approximately €2.3 trillion ($2.7 trillion) in 2022, according to IGD. Getir plans to use the funding to expand into new geographies, with three European countries set to be launched in 2021, as well as deepen its network in Turkey.
“The pandemic was a sort of help but in truth we were growing fast despite Covid-19,” Salur said. “The difference with us and other companies is that they saw dips when things went more normal, we have grown more month on month. That makes us different and investors can see that our business is not just strong from the pandemic.”
The funding round began in mid-December and closed around a month later. “We do fast delivery and fast raising,” Salur added.
The fundraise was led by Moritz’s personal investment arm, Crankstart, rather than Sequoia. Brazilian Base Partners also joined, with remaining funds coming from Revo, Fiba and Esas. Numis served as an adviser to Getir.
|Transaction Name||Number of Investors||Money Raised||Lead Investors|
|Jun 4, 2021||Series D – Getir||7||$555M||—|
|Mar 26, 2021||Series C – Getir||3||$300M||
Sequoia Capital, Tiger Global Management
|Jan 19, 2021||Series B – Getir||8||$128M||
Base Partners, Crankstart Foundation
|Jan 16, 2020||Series A – Getir||2||$38M||Michael Moritz|
|December 4, 2018||Seed Round – Getir||1||—||—|
|Dec 1, 2017||Convertible Note – Getir||1||$4M||—|
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