Getir follows mega funding round with Blok acquisition

Turkish rapid grocery delivery startup, Getir, is set to acquire Blok, another quick commerce service.

Financial terms of the deal have not been disclosed.

Based out of Barcelona, and previously known as Huvi Technologies, Blok is active in Spain and Italy, where its biggest markets are Madrid, Barcelona and Milan.

Por qué bajar al súper a buscar cuatro cosas para la cena si ahora un rider te lleva la compra en 10min 🚲
Gracias a @LaVanguardia por el artículo🚀https://t.co/0xOBYT0GM1 #Delivery #grocerydelivery #deliveryservice
— TheBlok_es (@Theblok_es) June 22, 2021

Getir, meanwhile, recently concluded a Series D funding round, raising over $550 million and taking the company's valuation to over $7.5 billion.

Investors included Tiger Global and Sequoia Capital, Silver Lake, DisruptAD, and Mubadala Investment Company.

This marked Getir's third round of investment in 2021, with nearly $1 billion raised since the beginning of the year. It is utilising the latest capital injection to fuel its expansion into the United States.

"Our model and approach to ultrafast delivery is thriving and this latest round of funding further enables us to deliver our best-in-class service to new customers in Europe, the United States and beyond,” said Nazim Salur, Founder, Getir.

“There is great appetite for Getir and rapid grocery delivery. As the pioneers of the market, we continue to stand out by constantly innovating to provide the industry standard.”