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Getir - The World's Fastest Delivery Proposition
Numis acts as exclusive adviser to Getir, the on-demand platform and world's fastest delivery proposition, on its c.$40m private growth round.
Getir overview
Getir is the world’s fastest delivery proposition, proven in Istanbul and ready to join the global stage. It was developed and managed by a leadership team built around three proven and ambitious entrepreneurs, responsible for developing the CEE equivalents of Uber, eBay and Google. The core Getir proposition offers over 1,000 SKU’s delivered in 10 minutes.
Getir's field operations are managed through an innovative franchise network which both simplifies operations and increases performance due to the owner-operated structure of the warehouses. Their model is enabled by an exceptional and entirely proprietary tech stack (which benefits from 3+ years of refinement) and is supplied by direct and mutually beneficial relationships with all major FMCG brands.
Its home market, Istanbul, has demonstrated;
- compelling unit economics
- stellar cohort behaviour
- industry-leading CAC payback characteristics
- wide customer demand demonstrating massive scalability
Getir has recently expanded into the food delivery business, which increases the route densities and efficiency of its core operations, and management plans to create an on-demand ecosystem in Turkey, building on its deep presence
"We had a great experience working with Numis in our fundraising project. We appreciate Alex Ham’s unique relationships, result-orientatedness, attention and speed of execution. We look forward to working with him and his team in our future projects".
This funding will help Getir;
- Accelerate growth in Turkey, both in their core market of Istanbul, and more broadly throughout the country
- Prepare Getir10 for international expansion
- Further develop their GetirFood and GetirMore propositions
- Continued investment in personnel to support the acceleration
Deal highlights:
- Raised c.$40m gross primary proceeds
- Pre money valuation of $350m
- Getir’s maiden international capital raise to fund growth ambitions
- The round was led by led by Crankstart, the personal investment vehicle of Sir Michael Moritz, one of the world’s lead venture capitalists and Chairman of Sequoia Capital
- Numis executed a global, competitive process in a bid to internationalise Getir’s shareholder base
- Significant residual interest and fan base created to help support future capital raises
"Getir’s approach to the complexities presented by grocery and food delivery is a Turkish delight prepared with a fresh recipe and unexpected ingredients".
