The company continues to build its proprietary technology with a development team of 80 people. Wolt was founded in Helsinki in 2014, and today employs over 450 people across its 15 countries. We are looking forward to working with the fantastic Wolt team, which is delivering rapid growth and expansion in the global food delivery industry while building a robust and sustainable operation for the long term,” said Greg Stanger, General Partner at ICONIQ Capital. In particular we were attracted to the company’s compelling operating model, with exceptional efficiency and unit economics.
“Wolt is a special company in numerous dimensions. Wolt’s solution to food delivery is based on its proprietary technology: the company’s platform optimises logistics in real-time, allowing Wolt to deliver food more efficiently than the wider industry. Since then, Wolt has expanded to a total of 15 countries and 50 cities across EMEA.
Just a bit over a year ago, Wolt operated in four countries and 10 cities in the Nordics. This new round of financing is testament to how far we’ve come in that regard, and how much there is still to do,” says Miki Kuusi, the CEO of Wolt. This is what Wolt focuses on – building the most efficient company in food delivery. However, while virtually everyone operating in this market can show extremely strong growth, it is incredibly difficult to do this while also building a viable business for the long-term. This is a massive opportunity across all geographies for companies like Wolt to tackle. “The online food delivery market is estimated to grow globally from $35 billion today to $365 billion by 2030. Highland Europe, EQT Ventures and Lifeline Ventures also invested as part of the rounds. The fresh capital will be used to continue investing in growth and expansion.
#Wolt iconiq series
The latest funding consists of two previously undisclosed rounds, including the most recently closed $130 million Series C led by ICONIQ Capital and the previous $30 million Series B, which was led by 83North in January 2018. Wolt, the Helsinki-based food delivery service, announced today that it has raised $160 million in new financing.
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