The company noted that these markets contributed only 7% of its revenue. It stated that withdrawing internationally would enable it to dedicate all its financial resources to its operations in Turkey, where it anticipates the greatest potential for long-term sustainable growth.

This decision is expected to result in significant job losses, as the company currently employs about 1,500 people in the UK alone.

This strategic shift is happening just over a year after the Turkish grocery delivery app expanded into several European markets, including the UK, the Netherlands, Germany, and Paris.

In April 2023, the company secured over $550 million in funding, which increased its valuation to more than $7.5 billion. At this time, Getir said it would use the funding to drive its expansion over in the US.

However, months after this, the company announced exits from Italy, Spain, and Portugal, claiming a refocus of “financial resources on existing markets.”

Following this, in August 2023, the company revealed plans to reduce its global workforce by around 11%, equating to 2,500 positions across Germany, the Netherlands, Turkey, the UK, and the US.

Companies like Getir, that specialise in grocery and food delivery, saw significant growth during the Covid-19 pandemic. However, a stronger than anticipated return to physical shopping has negatively impacted these ultra-fast delivery services.

This downturn has been exacerbated by a cost-of-living crisis, prompting consumers to opt for more economical choices for their regular shopping.

The same week Getir announced its exits from these markets, it had also announced that it had secured a new round of investment, intended to bolster its competitive edge in its primary food and grocery delivery operations in Turkey. The company has not yet disclosed the amount raised in this funding round.