Thursday, May 16, 2024

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    The Turkish “Getir” has tripled its investment capital since its establishment thanks to the boom of its services

    Turkish Express Delivery and Grocery Company “Getir” received $555 million in the latest funding round, tripling its value since its inception to more than $7.5 billion since March, and its success came as part of an investment boom in the inflamed sector, according to what is announced. the company on Friday.

    The Istanbul-based startup plans to expand further outside Turkey after launching its overseas presence in January for the first time. It is preparing to invest the proceeds in new branches in Paris and Berlin this month after its rollout in London and Amsterdam, with several cities in the US to follow in the last three months of the year.

    The company raised $428 million for international expansion in its January and March funding rounds. The company has thus far raised nearly $1 billion this year.

    With this success, the company is once again proving that it is worth more than its existing approved food delivery apps such as Deliveroo and Group Hope, as well as British supermarkets WM Morrison and Marks and Spencer.

    Founded in 2015, Turkey’s Getir has pioneered a 10-minute delivery class for customers who order via a smartphone app, with a massive deployment of its employees using motorbikes to fulfill orders from neighborhood warehouses stocking basic groceries.

    Because of the idea’s success, imitators have spread, such as German “Flink”, which was founded only six months ago, and raised $ 240 million from investors on Friday and announced a strategic partnership with supermarket group “Rio”.

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