– FINLAND, Helsinki – Wolt, the Helsinki-based online ordering and delivery company that initially focused on restaurants but has since expanded to other verticals, has raised $530 million in a new funding round led by Iconiq Growth, with participation from Tiger Global, DST, KKR, Prosus, EQT Growth and Coatue. The new round brings the total financing to-date to $856 million.
Previous backers 83North, Highland Europe, Goldman Sachs Growth Equity, EQT Ventures and Vintage Investment Partners also followed on.
“We operate in an extremely competitive and well-funded industry, and this round allows us to have a long-term mindset when it comes to doubling down on our different markets,” said co-founder and CEO Miki Kuusi. “Despite the turbulence of 2020, we’ve remained focused on growth, tripling our revenue to a preliminary $330 million against a net loss of just $38 million. Compared to the $670 million in new capital that we’ve raised during this year, this puts us into a strong position for investing in our people, technology, and markets when thinking about the next few years ahead”.
Since launching with 10 restaurants in its home city in 2015, five years on Wolt has expanded to 23 countries and 120 cities, mostly in Europe but also including Japan and Israel. More recently, like others in the restaurant delivery space, Wolt has expanded beyond restaurants and takeout food into the grocery and retail sectors. This, says the company, sees it offer anything from cosmetics to pet food and pharmaceuticals on its platform.
Wolt is a technology company that makes it incredibly easy to discover, and get great food delivered. Pick a restaurant, build your order, and hit send. Magic ensues.
Based in Helsinki, we operate in 23 countries and 90+ cities across EMEA, bringing together over 40,000 couriers and 15,000 restaurants.
For more information: https://wolt.com/en
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