The company aims to expand to the US by the end of the year. Here are the top-line bullets you need to know.
Getir, an online grocery delivery platform, has raised $550M in a Series D that drew participation from Tiger Global, Sequoia Capital, and Silver Lake, among others.
HOW’S THE COMPANY PERFORMING?
- Turkey-based Getir is a rapid grocery delivery application that operates in retail and logistics. It offers 10-minute delivery of goods to customers in urban areas.
- In 2020, the company reported a 5x increase in revenue and expects similar growth in 2021.
- Getir’s presence spans more than 30 cities in Turkey, where it owns 500 dark stores operating from micro-fulfillment centers and warehouses, offering 1,500 items. It has a global presence in 6 countries, including the UK and the Netherlands.
- The company has received 3 major investments in 2021, reportedly making it the second most valuable company in Turkey.
WHY DOES THE MARKET MATTER?
- The online grocery delivery services market is expected to grow at a CAGR of 29% and reach a value of $631.84B by 2024, according to Industry Research.
- Consumers have turned to delivery services in droves amid pandemic-induced lockdowns and indoor dining restrictions. In response, the $186B food and beverage delivery industry has expanded to meet customers’ evolving needs and interests, including by doubling down on sustainability.