Uber has struck a deal to acquire the delivery business of Turkey’s Getir, a onetime star of the country’s startup scene that has been battered by shifting consumer habits and a brutal funding climate.

The agreement will see Uber pay $335 million upfront for Getir’s food delivery operations. In a parallel move, Uber will invest $100 million for a 15% stake in Getir’s remaining grocery, retail and water delivery unit, with an option to take full control of that division over the coming years.

The business is being acquired from Getir’s largest shareholder, Abu Dhabi’s sovereign wealth fund Mubadala, which had been exploring ways to reduce its exposure after backing the company through its rapid rise and painful retrenchment.

Getir, founded in 2015, became one of the most prominent players in the ultrafast delivery boom, at one point commanding a valuation of about $12 billion. Fueled by pandemic-era demand, it expanded aggressively into the U.S. and Europe, both organically and through acquisitions, betting that consumers would stick with rapid delivery even after lockdowns ended.

That thesis unraveled as growth in food and grocery delivery cooled and investors turned against cash-burning models. In response, Getir pulled back sharply, shuttering operations and cutting thousands of jobs in the U.S., U.K. and Europe to refocus on its core Turkish market.

The company also endured a bruising internal battle over a restructuring plan led by Mubadala. One of Getir’s co-founders challenged the proposal in court, describing it as an “illegal coup,” but a Dutch court ultimately rejected the founder’s appeals, clearing the way for Mubadala’s strategy.

According to PitchBook, Getir has raised about $2.4 billion in total funding. Court filings last year showed the company valuing its group assets at $374 million, a stark comedown from its peak valuation but a base from which Mubadala argues the business has since rebuilt.

Mubadala deputy group chief executive Waleed Al Mokarrab Al Muhairi said the transaction underscores the resilience of Getir’s operations and the progress made in stabilizing the company.

For Uber, the deal deepens its push into delivery in Turkey. The company plans to integrate Getir’s food delivery arm with Trendyol Go, the local food and grocery service it acquired for $700 million. Uber said Getir’s food unit generated more than $1 billion in gross bookings in 2025, up 50% year on year, contributing to strong global delivery revenue growth across Europe, the Middle East and Asia.