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Turkey's Getir denies reports of deal that would roughly halve valuation

Middle East

20-04-2023 | 05:14

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Turkey's Getir denies reports of deal that would roughly halve valuation

Turkey's fast delivery company Getir denied on Thursday reports of a deal that values it at $6.5 billion, roughly half of its valuation last year, adding that it is always in talks with investors for new funding.

"Recent rumors claiming that Getir has as of now raised $500 million at a valuation of $6.5 billion is incorrect," the company said in a statement.

"If and when we conclude a structured or a priced round, we will share the news with the public," the company added.

News website Insider reported on Wednesday that Getir raised $300 million from Abu Dhabi state fund Mubadala, citing industry sources. The deal would cut the company's valuation almost in half.

In March last year, Getir closed a $768 million funding round led by Mubadala that valued the company at around $12 billion.

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