Getir becomes decacorn after raising $768 million

getira Turkish ultra-fast delivery company, has captured $768 million in a series E financing round. This raising has given rise to the company having a $11.8 billion valuationthus obtaining the status of ‘decacorn’ (companies whose valuation exceeds 10,000 million dollars). In this way, it is positioned as the Europe’s first grocery delivery decacorn.

The round was led by Mubadala Investment Company. In addition, Abu Dahi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global were present as major investors.

“This investment will allow us to continue developing our proposal and technology, as well as investing in our employees to continue attracting the best talent”, it states Nazim Salur, founder of Getir it’s a statement.

Getir, fourth European unicorn

According to data published by CB Insightsthe Turkish company has managed to rise to the position 36 out of 1,052 unicorn companies in the world. While in Europe it occupies the fourth position. This has been possible thanks to the collection obtained in the financing round.

Since its birth in 2015, the company has always shown its interest in continuing to grow. It is for this reason that, in January last year, Getir carried out a process of international expansion in Europe and the United States. This resulted in the company reaching 40 million downloads on the app in 9 countries.

The company currently offers services in the United Kingdom, Germany, Italy, Spain, the Netherlands, Portugal and the United States. It is also available in 81 cities in Turkey and 48 cities in Europe and the United States. In our country it operates in Madrid, Barcelona, ​​Valencia, Zaragoza and Seville. As reported by the company itself, the money raised in this round will go to continue betting on growth in the countries where it operates, in addition to consolidating its current position.

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Good marketing strategy but how profitable is it?

Many express delivery companies have an ambitious marketing strategy. It’s based on offer customers numerous discounts and promotions to their customers with the aim of retaining them.

A study by The Wall Street Journal About Fridge No More (a fast delivery company that does not operate in Spain) he states that he would be losing about 78 dollars per shipment made. The same thing can happen to Getir. That is why many last mile delivery experts are looking very carefully at this business model, given that they doubt that they will be able to achieve profitability long-term.

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