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Jun 25, 2024 443

Latest status of Getir, which received an investment of 250 million dollars

#Regional

Getir, which received an investment of 250 million dollars, announced that it was restructuring.

We reported last April that Getir decided to exit the markets in the UK, Germany, the Netherlands, and the USA. After long discussions about restructuring, Getir announced that it has received a new investment. According to Getir’s statement, the company received an investment of $250 million. Along with the new investment, significant changes occurred in the company's ownership structure.

The majority stake in Getir's online grocery and food delivery services has been transferred to Mubadala Following the investment, the management and majority stake in Getir's online grocery and food delivery services in Turkey have been transferred to Mubadala Investment Company. Nazım Salur and the founders of Getir will retain minority shares in the newly restructured group and will continue to serve on the board of directors. According to the announcement, Batuhan Gültakan has been appointed as the CEO of the Turkish online grocery and food delivery company, which is now majority-owned by Mubadala.

n11, BiTaksi, GetirAraç, Getirİş, and FreshDirect remain under the management of Nazım Salur As part of the restructuring, a new group has been formed. This new group, to be managed by Nazım Salur and the founders of Getir as major shareholders, includes n11 (operating in e-commerce), GetirBiTaksi and GetirAraç (operating in mobility), the career platform Getirİş, and FreshDirect (operating in grocery delivery in New York). Mubadala and other investors from the new investment round will hold minority shares in this group of services. Additionally, the ownership structure of GetirFinans was detailed, showing 40% by Getir’s founders, 32% by Mubadala and other new investors, 20% by İş Bankası’s investment fund Maxis, and 8% by Crankstart, a family foundation founded by Sequoia Capital partner Michael Moritz.

Both groups will continue to operate under the existing Getir application framework. Hani Barhoush, Board Member of Getir and CEO of Mubadala Diversified Investments Platform, expressed appreciation and gratitude to Nazım Salur on behalf of the board for his vision and leadership over the years and mentioned their eagerness to continue collaborating with him.