Getir to exit European and US markets, announces new investment round
Getir has announced that it will be exiting its markets in the UK, Germany, the Netherlands and the US, redirecting its financial resources to focus on Turkey.
With only 7% of its revenues coming from these markets, Getir’s decision will enable it to focus its financial resources in the country where it was founded, Turkey, where it sees the greatest potential for sustainable long-term growth.
The decision is likely to put hundreds of jobs at risk. In a statement, the company said: “Getir expresses its sincere appreciation for the dedication and hard work of all its employees in the UK, Germany, the Netherlands and the US”.
At the same time, Getir has secured a new investment in a round led by Mubadala and G Squared, which it will use to strengthen its position in its core food and grocery delivery operations in Turkey. The investment amount was not disclosed.
