Turkish fast delivery startup Getir is in advanced talks to buy Berlin-based rival Gorillas Technologies GmbH, Bloomberg News reported on Monday, citing people familiar with the matter.
The potential deal would give Getir scale in key European markets including the U.K. and Germany, the report said.
No final decisions have been made, but the proposed deal would be a mix of cash and equity, Bloomberg added.
Gorillas was working with JPMorgan on its fundraising plans and other strategic options, which include the sale of some or all of its business, Reuters reported in June.
Earlier, sources close to the subject also said that Gorillas was in talks with some of its competitors about the possibility of a merger or sale.
After being founded in 2020, Gorillas quickly attracted capital at the height of the COVID-19 lockdowns, which saw a surge in the popularity of its delivery services. However, the company recently had to make layoffs and exit some markets in which it operates.
Gorillas CEO Kağan Sümer said earlier this year that they are planning to seek new financing to return the company to profitability.
Earlier this year Getir closed a $768 million funding round led by Abu Dhabi state investor Mubadala that valued the company at around $12 billion. Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global participated in the funding round.
When contacted by Reuters, a Getir spokesperson said they could "neither confirm or deny" the Bloomberg report, while Gorillas said it will not provide any comment.
