Getir eyes funding round at $11.8 billion

Getir is closing in on a deal to raise $800 million in a funding round, according to a Bloomberg report.

The round comes with a $250 million check from lead investor Mubadala.

Abu Dhabi’s state holding company ADQ, Sequoia and Tiger Global were among the other investors. Alpha Wave Global, which was known as Falcon Edge Capital, will join the other investors.

The delivery company’s value now sits at $11.8 billion.

READ MORE: Getir to trial click and collect from dark stores

The report also states that Getir wants to expand into more US cities and was looking at going public either in 2022 or 2023.

Getir has around 30,000 employees worldwide, and will be competing with the likes of Gopuff and DoorDash if it expands in the US.

The news comes as the company recently said it would reassess its links to investment firm Winter Capital should Vladimir Potanin, an oligarch linked to the Russian firm, face sanctions due to Russia’s invasion of Ukraine.

Winter Capital participated in Getir’s Series D round in June last year and has a 0.45% stake in the company.

A Getir spokesperson told Sifted: “If any sanctions are imposed involving Winter Capital we will do the necessary adjustments. In the meanwhile our legal teams are evaluating the matter and we will act in the appropriate manner.”

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