Getir co-founders file $700M lawsuit in London over alleged asset betrayal

The high-stakes power struggle over the future of the Turkish delivery giant Getir has reached the High Court in London. Co-founders Nazım Salur and Serkan Borançılı have officially filed a lawsuit seeking at least $700 million in damages from Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company. The legal action alleges a significant breach of contract and conspiracy following a major restructuring of the company last year.

For the Turkish business community in London—particularly in entrepreneurial hubs like Hackney, Islington, and Camden—the case is being closely watched as a landmark dispute between one of Turkey’s most successful tech exports and its global investors.

Allegations of withheld assets

The core of the dispute centers on a June 2024 restructuring agreement. Under that deal, Mubadala took majority control of Getir's core grocery operations in Turkey, while a group of other valuable assets was supposed to be transferred to the founders.

• Missing Pieces: Salur and Borançılı claim that while they were handed the least profitable units—such as the New York-based FreshDirect and the e-commerce platform n11—the most valuable assets were withheld.

• The "Crown Jewel": At the heart of the claim is Getir Finance, a technology-driven financial platform valued at approximately $510 million. The founders argue this asset was never transferred as promised.

• Damages: The $700 million figure reflects the estimated financial losses the founders say they suffered due to these missing transfers and the alleged "conspiracy" to diminish their control.

Uber’s entry into the fray

The timing of the lawsuit is particularly notable, coming just days after Uber announced a major deal to acquire Getir’s Turkish food delivery business for $335 million.

• Acquisition Details: Uber’s plan includes a $100 million investment for a 15% stake in Getir’s remaining grocery and water delivery units.

• Complexity: Analysts suggest the ongoing legal battle in London could complicate the regulatory approval and integration of these businesses, affecting workers and services in Turkish-heavy boroughs like Enfield and Haringey.

A "Silicon Valley-style" fallout

Once valued at nearly $12 billion during the pandemic boom, Getir has faced a turbulent path as global demand for rapid delivery waned. This legal battle in Westminster represents a dramatic "falling out" between the visionary founders who started the company in Istanbul in 2015 and the Emirati backers who provided the capital for its rapid expansion.

Mubadala has previously stated its actions were necessary to ensure Getir’s financial stability and protect its 18,000 employees. However, with the founders now seeking a massive payout in the High Court, the "purple and yellow" delivery pioneer faces a long period of legal uncertainty that will be felt from Istanbul to the streets of Southwark and Tower Hamlets.