January 15, 2020 / 1:26 PM / 7 days ago

Turkish fast delivery start-up says attracts $38 mln funding

ISTANBUL, Jan 15 (Reuters) - Turkish rapid delivery company Getir has attracted $38 million in funding from a group of Turkish and foreign investors led by venture capitalist Michael Moritz, the start-up said on Wednesday.

Moritz, a partner at Sequoia Capital, has made an investment of $25 million through his personal investment vehicle Crankstart with further investors in Brazil and Turkey providing another $13 million in funding, Getir said in a statement.

Istanbul-based Getir, established in 2015, says that through its app it can deliver “within minutes” thousands of grocery goods ranging from eggs to ice cream and from nappies to cat food.

Nazim Salur, the founder of Getir, said the investment would help the company expand to new markets.

The company is currently active in the Turkish cities of Istanbul, Ankara, Bursa, Izmir and Izmit and aims to offer services abroad, initially in London, Sao Paulo, Paris and Mexico City.

Reporting by Daren Butler Editing by Dominic Evans

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