Turkish rapid grocery delivery startup Getir will exit the UK and several other markets as part of a major restructuring of the business.
The company confirmed on Monday it is pulling out of the UK, Germany, the Netherlands and the US. Rumours of the firm’s UK exit were reported earlier this month.
The Getir-owned US subsidiary FreshDirect will continue to operate. The exit from the UK market will put the jobs of 1,500 Britain-based Getir staff at risk.
A spokesperson for Getir said these markets account for just 7% of its revenue. The company said it will focus its efforts on the Turkish market, backed by a new investment round led by the UAE state-owned Mubadala Capital and G Squared.
“Getir expresses its sincere appreciation for the dedication and hard work of all its employees in the UK, Germany, the Netherlands, and the US,” the spokesperson said.
Founded in 2015, the Istanbul-headquartered startup entered the UK market in 2021 amid a period of rapid expansion.
Armed with $1.8bn in venture capital funding, Getir sought to dominate the market – which became massively popular during the Covid-19 pandemic – through a series of acquisitions including London’s Weezy. More recently, Getir acquired German-founded competitor Gorillas in late 2022 in a deal worth $1.2bn.
Like many other players in the rapid grocery delivery market, high operational costs meant profits remained elusive for Getir. Earlier this month, UK-founded Getir rival Zapp posted widening losses for 2022, which it attributed to a “costly restructuring” when it exited the Netherlands and France to focus on its domestic market. Zapp said in 2024 it is “operationally profitable”.
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