{"id":79331,"date":"2024-06-26T00:00:00","date_gmt":"2024-06-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/26\/turkish-delivery-platform-getir-gets-a-usd-250-mn-capital-injection-from-mubadala\/"},"modified":"2024-06-26T00:00:00","modified_gmt":"2024-06-26T00:00:00","slug":"turkish-delivery-platform-getir-gets-a-usd-250-mn-capital-injection-from-mubadala","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/26\/turkish-delivery-platform-getir-gets-a-usd-250-mn-capital-injection-from-mubadala\/","title":{"rendered":"Turkish delivery platform Getir gets a USD 250 mn capital injection from Mubadala"},"content":{"rendered":"

Mubadala invests in Getir\u2019s restructuring:<\/strong> Turkish last-mile delivery startup Getir will receive a capital injection of up to USD 250 mn by UAE\u2019s Mubadala after the firm agreed to break up operations into two separate firms, Sky News<\/a> reports. The investment comes as Getir winds down and closes UK and European operations and splits operations to refocus on growing its Turkish food delivery services.<\/p>\n

The split:<\/strong> The first company will be majority-owned and overseen by Mubadala, operating in food and grocery delivery in Turkey. Operations will be spearheaded by current Getir executive Batuhan Gultakan, and Getir founder Nazim Salur will not play an active role in the company. The second company will be operated by Salur and include Getir\u2019s other assets including ride-hailing services Getir Drive and BiTaksi.<\/p>\n

Some of the funds were already paid out:<\/strong> Mubadala, along with other investors, provided Getir with additional funding \u2014 which came in at about USD 200 mn \u2014 in late April<\/a>. The investment was split into tranches, with USD 90 mn of the total already paid out, and full delivery contingent upon Getir meeting set targets, including changes to the board and a reshuffle of senior management.<\/p>\n

Background:<\/strong> Tensions between Turkish last-mile delivery startup Getir\u2019s founders and Mubadala \u2014 its largest investor \u2014 reached a boiling point in May after Chief Strategy Officer Derya Erdemli was dismissed by the startup\u2019s management.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investment comes as Getir winds down and closes UK and European operations and splits operations to refocus on growing its Turkish food delivery services<\/p>\n","protected":false},"author":1,"featured_media":79332,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[44,231,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-investment-watch","tag-turkey","tag-uae","wpautop","entry"],"acf":{"mongo_id":"23f13461-af36-4155-9f25-ff82f4f9cf3a","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1669.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Turkish 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