Wolt began in 2015 as a restaurant ordering and delivery service and has expanded into groceries, retail and other local delivery verticals. The company operates in 23 countries and 120 cities and runs optimization-heavy last-mile logistics and a growing dark store operation called Wolt Market. Wolt positions itself as aiming to be an "everything app" for goods and local services, offering items from cosmetics to pet food and electronics. Management says the product-market fit is a quick, predictable delivery experience for high-frequency local services, achieved by handling delivery complexity on merchants' behalf. Financially, Wolt tripled revenue to a preliminary $330 million while reporting a net loss of $38 million; the company has raised substantial capital to fund growth and market expansion. The team plans to invest in people, technology and markets to double down on different markets and maintain a long-term mindset. Wolt is a technology company that makes it easy to discover and get food delivered to home or office. Led by CEO and co-founder Miki Kuusi, the company operates in 23 countries and 100+ cities. Wolt serves food from over 20,000 restaurants and works with more than 45,000 courier partners. The company was founded in 2014 and is based in Helsinki, Finland, and it employs over 1,500 people. Wolt has raised €267M in funding from investors including ICONIQ Capital, Highland Europe, 83North, EQT Ventures, Inventure, Lifeline Ventures, Goldman Sachs Growth Equity, Ilkka Paananen and Risto Siilasmaa. The article does not disclose revenue figures or other operating financial metrics. Wolt is a Finnish food-delivery startup that runs a platform connecting restaurants, couriers and consumers. The company works with more than 10,000 restaurants and 20,000 couriers across 22 countries and 80 cities, and its staff has grown to over 1,000 people (up from 450 at the last round). Less than a year after securing $130 million, Wolt raised a new €100 million round to bolster its balance sheet. CEO Miki Kuusi said the raise is intended to prepare the company for uncertainty tied to the coronavirus outbreak and a possible global recession of 6–18 months. The company reported growth in many markets but emphasized the need to add cash to ensure it can operate for many years to come. The fundraise comes amid competitive moves in the market, including Takeaway.com's €700 million raise and its merger with Just Eat. Wolt operates a food delivery service that facilitates orders from local restaurants to customers using a network of couriers. Founded in 2014 in Helsinki, the company says it operates in 50 cities across 15 countries and employs 450 people. Wolt reports working with more than 5,000 restaurants and 10,000 couriers. The company emphasizes building operational efficiency to create a viable long-term business in a rapidly expanding market. CEO Miki Kuusi highlighted a projected global market growth from $35 billion today to $365 billion by 2030 and framed Wolt’s focus around capturing that opportunity. No revenue figures or specific financial metrics were disclosed in the article. Wolt operates a mobile food-delivery marketplace that lists restaurants and handles takeaway and delivery transactions. The company charges a few percent on takeaway orders and a larger cut on delivery transactions; the app is free for customers and there are no merchant signup or monthly fees. Wolt reports 100,000 registered users and 450 restaurants on the platform in Finland. The company is using new funds to expand across the Nordics and the Baltic region, hire local launch teams, and invest in product development at its headquarters. As part of that expansion, Wolt launched in Stockholm as its first city outside Finland, starting with 32 restaurants. Wolt competes with established global and regional players but has captured significant local market share in Finland.

Total raised

$788M

Funding rounds

5

Latest round

Equity

Latest activity

Jan 2021