Getir Co-Founders Sue Mubadala for $700M Over Asset Breakup
Getir's founders are taking Abu Dhabi sovereign wealth fund Mubadala to court in London over alleged massive losses.
The co-founders of rapid grocery delivery startup Getir are going after deep pockets. Nazim Salur and Serkan Borançılı have filed a $700 million lawsuit against Mubadala, Abu Dhabi's sovereign wealth fund, in London.
The allegation: Mubadala caused a "significant loss" by breaking up Getir's assets. The entrepreneurs claim the fund's actions destroyed value in the once-high-flying food delivery company.
Getir was one of the most prominent quick-commerce startups to emerge in recent years, riding the pandemic-era delivery boom before the sector hit turbulence. The company raised billions at its peak valuation.
Now its founders are fighting in court to recover what they say was taken from them. A $700M claim against a sovereign wealth fund is no small gamble — but clearly Salur and Borançılı think they have the receipts.