Photo: A delivery rider with express service company Getir on the road in Istanbul, Turkey, on April 9, 2019.

Islamic Finance

Turkish delivery start-up Getir raises $128 mln to fuel international expansion

Turkish on-demand delivery start-up Getir has raised $128 million in a Series B round it says will go into its international expansion.

The funding round was led by billionaire Michael Moritz’s Crankstart Investments and Brazilian Base Partners, with participation from Tiger Global, Goodwater Capital, Esas, Fiba and Revo, according to a statement.

With this Series B funding in place, Turkey’s biggest online delivery service is valued at approximately $850 million.

The company previously raised $70 million from investors, including $38 million in its Series A round in January last year. Venture capitalist Michael Moritz committed $25 million in that funding round.

Getir is now eyeing expansion into London, Sau Paulo, and Mexico City.

The Istanbul-based start-up started in 2015, led by founder  Nazim Salur. It has  operations in 10 Turkish cities including Istanbul and Ankara.

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