MADRID, June 30 (Reuters) - Turkish delivery startup Getir will cease its business in Spain and lay off its entire workforce there of 1,560 after failing to raise enough capital in a recent funding round, Spain's biggest trade union CCOO said on Friday.
"We condemn the disastrous business management of Getir, which has not known how to grow or have a market strategy in Spain," the union said in a statement.
Spain's food delivery market is dominated by Delivery Hero (DHER.DE)-owned Glovo, the Netherlands' Just Eat Takeaway (TKWY.AS) and Uber Eats (UBER.N), all three of which gained market share after Britain's Deliveroo (ROO.L) exited the country in late 2021.
Getir Spain did not immediately reply to a request for comment.
However, in an April deal, Getir reportedly only raised about $500 million, cutting its valuation almost in half to $6.5 billion.
Persons:
CCOO, Britain's Deliveroo, Getir, Le Monde, Flink, David Latona, Sudip Kar, Gupta, Louise Heavens
Organizations:
Getir, Financial Times, Thomson
Locations:
MADRID, Spain, Netherlands, Getir Spain, France, Getir France, Istanbul, Getir, Paris