Turkish delivery startup Getir is raising $300 million at a mooted $2.6 billion valuation from Sequoia Capital and Tiger Global

<p><img src="https://static4.businessinsider.com/image/60095e87db847c001918c008-2400/Nazim Salur - Getir's Founder &amp; CEO .jpeg" alt="Nazim Salur Getir's Founder &amp; CEO " data-mce-source="Getir" data-mce-caption="Nazim Salur Getir's Founder &amp; CEO" border="0"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Grocery app Getir is finalizing $300 million in fresh funding at a high valuation, just months after closing a $128 million round.</p><p>Two industry sources confirmed the fundraise figure to Insider. The round was first reported by <a href="https://egirisim.com/2021/03/18/getir-2-6-milyar-dolar-degerleme-ile-300-milyon-dolarlik-yeni-bir-yatirim-aldi/">Turkish news outlet Egirism in Turkey</a>, which stated the deal values Getir at a whopping $2.6 billion.</p><p>Insider can reveal that the round is being co-led by prominent Silicon Valley investor Sequoia Capital alongside existing investor Tiger Global. The round is not yet closed but is expected to be formally announced soon.</p><p>Michael Moritz, a partner at Sequoia, previously participated in Getir funding rounds through his personal investment vehicle Crankstart.</p><p>Getir declined to comment.</p><p><img src="https://static4.businessinsider.com/image/6054bda8a7446d0018c85154-1367/Screenshot 2021-03-19 at 150441.png" alt="Getir's app" data-mce-source="Getir" data-mce-caption="Getir's app offers grocery delivery in as little as 10 minutes." border="0"></p><p>Based in Istanbul and founded in 2015, Getir allows customers to order groceries via its app for delivery in as little as ten minutes. It claims to have grown revenues five-fold in 2020. <a href="https://twitter.com/getir_UK'ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1354478238630875137%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.uktech.news%2Fnews%2Fgetir-10-minute-grocery-delivery-service-enters-london-20210202">The company recently expanded to the UK, launching its service in London</a>.</p><p>In January, the startup <a href="https://www.businessinsider.com/getir-turkish-delivery-startup-raises-128m-vc-funding-from-tiger-global-2021-1">raised $128 million of Series B funding at an $850 million valuation</a>, with new investment coming from private equity giant Tiger Global and Monzo-backer Goodwater Capital.</p><p>The round comes <a href="https://www.businessinsider.com/dark-store-grocery-delivery-europe-fomo2020-11">amid an investor rush into grocery delivery apps</a> in Europe, often at eye-watering valuations.</p><p>Consumers have sped up the switch to online grocery delivery during the pandemic, with investors betting that the trend is here to stay. The European grocery retail market is overall expected to be worth approximately 2.3 trillion ($2.7 trillion) in 2022,&nbsp;<a href="https://www.igd.com/articles/article-viewer/t/igd-forecasts-the-european-grocery-retail-market-to-be-worth-2289-billion-by-2022/i/18611" data-analytics-module="body_link" data-analytics-post-depth="20" data-uri="db887463b03718e4d7e24155bb8484c5">according to IGD</a>.</p><p><a href="https://www.businessinsider.com/tencent-dst-coatue-grocery-startup-gorillas-unicorn-funding-round-2021-3">Insider reported earlier on Friday</a> that rival app Gorillas is in talks to raise a major funding round, thought to be backed by Chinese tech giant Tencent and at a valuation above $1 billion.</p><p>Other new startups in the increasingly crowded space&nbsp;<a href="https://www.businessinsider.com/dija-10-minute-grocery-delivery-startup-launches-first-operations-in-london-2021-3" data-analytics-module="body_link" data-analytics-post-depth="100" data-uri="107a3dcd0cce996c6bf239da69e7805d">include UK delivery service Dija</a>, which was founded in late 2020, raised $20 million in seed funding last year, and recently <a href="https://techcrunch.com/2021/03/17/dija-acquires-cambridge-based-genie/" data-analytics-module="body_link" data-analytics-post-depth="100" data-uri="2a7067035075e8d08b0eb513affc78ab">made its first acquisition in the form of Cambridge-based rival Genie</a>.</p><p>At the start of March, <a href="https://techcrunch.com/2021/03/02/czech-on-demand-grocery-delivery-startup-rohlik-bags-230m-to-expand-across-europe/#:~:text=Rohlik%2C%20a%20Czech%20startup%20that,190%20million%20(%24230%20million" data-analytics-module="body_link" data-analytics-post-depth="100" data-uri="05755c812732794053fe856210e327a6">Czech competitor Rohlik raised $230 million</a>. And Berlin's Flink <a href="https://techcrunch.com/2021/03/02/flink/" data-analytics-module="body_link" data-analytics-post-depth="100" data-uri="38881c45f787c96375d5a914f39a5ef7">raised $52 million</a>&nbsp;at the start of March.</p><p><strong>SEE ALSO:&nbsp;<a href="" ></a></strong></p><p><a href="https://www.businessinsider.com/getir-turkish-delivery-unicorn-raising-monster-funding-sequoia-tiger-global-2021-3#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/melissa-maker-clean-your-home-quickly-cleaning-expert-2017-4">A cleaning expert reveals her 3-step method for cleaning your entire home quickly</a></p>
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