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Getir announces new investment and restructuring

Turkish grocery delivery app Getir has announced that it has received a new fresh investment of $250 million and that it will split into two groups.

Mubadala Investment Company, which injected the fresh capital, will hold the management and majority stake in the first group that will focus on food and grocery delivery operations in Türkiye.

Turkish grocery app Getir exits US, Europe

Turkish grocery delivery app Getir said on Monday it was withdrawing from the United States and its remaining locations in Europe to focus instead on its domestic market.

Getir said in a statement that it was leaving the U.K., Germany, the Netherlands and the United States — countries where it generated seven percent of sales.

Turkish on-demand delivery pioneer Getir's valuation hits $7.5 bln

Turkish on-demand delivery pioneer Getir's valuation rose to over $7.5 billion, thanks to the investment of $550 million it received.

Getir will utilize the latest capital injection to fuel its expansion into the U.S., the Istanbul-based platform said in a statement on June 4.