Getir founders file $700m claim against Mubadala, report says

The founders of Turkish food delivery service Getir have reportedly filed a case against Mubadala Investment Company in London’s High Court.

Co-founders Nazim Salur and Serkan Borançılı are seeking at least $700 million from the Abu Dhabi sovereign fund for allegedly backing out of a 2024 agreement to transfer a group of assets to them, the Financial Times reported.

In June 2024, Getir said it had agreed to a restructuring, with Mubadala leading a $250 million cash injection and acquiring majority control of Getir’s Turkish grocery operations. 

The remaining assets were placed in a standalone business, including its FreshDirect grocery service in New York, in which the founders would have a controlling stake, the report said.

However, the founders alleged in the lawsuit that only the least profitable assets — FreshDirect and the online shopping platform n11 — were transferred.

They claimed they are still owed assets, including Getir Finance, which the FT said was valued at $510 million last year.

When contacted by AGBI, Mubadala declined to comment. The FT report said Mubadala had not yet filed its defence.

Uber said earlier this month that it had agreed to buy the delivery arm of Getir from Mubadala, expanding the US-based company’s Turkish footprint.

Further reading:

• Uber seeks Turkish approval to buy Getir Food from Mubadala
• Turkey’s Getir exits Europe and US to focus on home market
• Mubadala venture buys Clear Channel Outdoor for $6.2bn