Turkish grocery delivery company Getir announced it has secured a $250 million investment. This investment will be divided into two groups as part of a comprehensive restructuring plan aimed at focusing on different markets.
Getir Plans to Target Diverse Markets
According to Getir’s statement, the first group will concentrate on local online grocery stores and food delivery services. The second group will continue its operations in e-commerce, non-banking financial services, and transportation, and enhance the operations of FreshDirect, a company based in the United States.
Capital Injection from Mubadala Investment Company
Getir revealed that Mubadala Investment Company, a current shareholder in Getir, will inject capital and retain management control and a majority stake in the company’s operations in Turkey under the restructuring plan. Meanwhile, the founders, including Nazım Salur and others, will hold a minority stake.
The focus of the Second Group
The second group, where Salur and other founders will maintain a majority stake, will focus on the e-commerce arm “N11,” transportation services Getir BiTaksi and Getir Araç, and the New York-based grocery delivery unit FreshDirect, among other ventures.
Strategic Withdrawal from European and American Markets
In April, Getir announced its decision to withdraw from its remaining European and American markets to concentrate on its primary domestic market. This move represents a significant shift following the company’s rapid expansion and success in recent years.
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