Quick commerce company Getir is said to be burning up to a hundred million dollars a month, so the company is urgently looking for new capital. If that fails, the flash delivery company would consider leaving the Netherlands and Italy.
Towards franchise model
Despite acquiring rival Gorillas late last year, Getir is still not doing well. The grocery courier previously left Spain, Portugal and France. Now the delivery company also wants to switch to a franchise model, with local retailers serving as supply points instead of its own dark store warehouses. This should save costs, but is less fast and efficient.
Founder Nazim Salur is also said to have been negotiating feverishly with investors for weeks about a cash injection, Handelsblatt reports. Originally he wanted to bring in half a billion dollars, but in the meantime the company would already settle for half. It is said to be urgent, however: supply problems would already be surfacing as suppliers are said to be paid late and many fresh assortments are currently unavailable.
In a comment, a Getir spokesperson told RetailDetail that reports of a possible departure from the Netherlands are “purely speculative”. In doing so, however, the company ignores the reality that a lot of flash delivery companies are in serious trouble as they appear to be unable to stem their huge losses. Getir itself left Spain earlier this month because it did not find sufficient funding to continue operating there, but companies such as Flink and Gorillas (which has since been acquired by Getir) have also had to withdraw from various markets in order to concentrate existing funds on core markets.