Turkish food delivery startup Getir is withdrawing from Italy, Spain, and Portugal, the company said, adding that it is finalising a funding round.
Ultra-fast grocery delivery startups like Getir boomed during the COVID-19 pandemic but have been hit by consumers' stronger than anticipated return to shopping in stores.
In an emailed statement, the company said it 'intends to withdraw in an orderly manner' from the three countries.
Finalising A Funding Round
'At the same time, Getir is finalising a funding round and will continue to operate in the UK, the US, Germany, the Netherlands, and Türkiye, which generate 96% of the company's revenues,' the company said.
A month ago, Spain's biggest trade union said Getir was ceasing its business in the country and laying off its entire workforce. Getir did not give details of layoffs.
'Getir's withdrawal from these three markets will allow it to focus its financial resources on existing markets where the opportunities for operational profitability and sustainable growth are stronger,' the company said.
In June, Getir announced its decision to leave the French market.
According to news portal Le Parisien, which quoted a press release sent to the AFP news agency, the Turkish quick commerce player is leaving France as it deems the country to be 'too administratively restrictive'.
Im May of this year, Amsterdam imposed restrictions on quick-commerce companies, permitting them to only set up warehouses in industrial estates and, in exceptional cases, in mixed residential and work areas, following the approval of the city council’s new zoning plan.
