Page 22 - BNE_magazine_03_2020 wellness

22 I Companies & Markets bne March 2020
Turkish rapid delivery groceries start-up Getir
‘in talks to raise additional $100mn in funding’
Akin Nazli in Belgrade
Turkish rapid delivery groceries start-up Getir (“Bring”) is in talks to raise at least $100mn of additional funding as it plans to expand into the UK and South America, co-founder Nazmi Salur has told Bloomberg.
The company aims to reach a $1bn market value within one year and it is targeting a tripling of its sales to $360mn in 2020 from $120mn in 2019 and $50mn in 2018, according to Salur.
Getir attracted $38mn in funding from a group of Turkish and foreign investors led by venture capitalist Michael Moritz.
In February 2016, the co-founder of Russia's leading internet company Yandex, Arkady Volozh, invested personal funds in two startups, Israel-based NeuroSteer and Getir.
Istanbul-based Getir has raised a total of $70mn since it was established in 2015.
It currently operates in the Turkish cities of Istanbul, Ankara, Bursa, Izmir and Izmit and it initially plans to expand into London, Sao Paulo, Paris and Mexico City.
Getir aims to be a billion-dollar company within one year.
At home, Getir competes with Yildiz Holding’s istegelsin.com, Delivery Hero’s banabi and Migros’ Migros Sanal Market.
Glovo exiting
Last month, Spain-based on-demand delivery start-up Glovo announced that it was exiting Turkey, Egypt, Puerto Rico
and Uruguay as part of its drive to hit profitability by 2021. Glovo launched its Turkey operations as recently as 2018. Last year, the company served more than 500,000 customers in Turkey’s three largest provinces, Istanbul, Ankara and Izmir. Glovo did not explain exactly why it decided to end its Turkey operations.
Delivery services is a lucrative business in Turkey. Online food takeaway company Yemeksepeti says it delivers more than 400,000 orders in a single day while Getir handled over 1.5mn orders in December alone.
Back in 2015, Delivery Hero bought Yemeksepeti for nearly $590mn.
Turkey’s digital fast-moving consumer goods market accounts for 0.3% of the country’s total FMCG market of around $100bn, according to Salur.
Czech online food shop Rohlik.cz begins operation in Hungary
Tamas Szilagyi in Budapest
Czech online supermarket Rohlik.cz has announced
its launch in Hungary as Kifli.hu, local media reported on January 28.
www.bne.eu
Hungary is the first market outside the Czech Republic for the group, which wants to expand to new markets in the future, possibly to Germany, majority owner Tomas Cupr said in December.