12/7/2023 0 Comments Wolt helsinkibased 530m iconiq![]() It’s just raised 530m in a round led by ICONIQ Growth to expand its speedily-growing retail delivery service faster and further. In conversation with the FT this week, Kuusi said: “Frankly speaking, if you had asked me a few months ago, I would have said we would rather compete. This time last year, Wolt had 700 employees, was operating in 20 countries and reported 87m turnover in 2019. ![]() Now, it’s in 23 countries and 129 cities, has more than 2,200 employees and saw revenue triple in. Wolt couriers are going on strike to protest pay cuts A group of Wolt. “I just saw that we can do so much more together, because ultimately, we’ve always been an underdog company that came from a difficult home market. Wanna join Wolt on their growth journey? If so, check out the video below, and also check out the EU-Startups Job Board for great career opportunities in the startup world.Has just raised 530 million dollars in a round led by the investment fund ICONIQ. Wolt works with more than 5,000 restaurants and 10,000 couriers partners across its 50 cities. In addition to being a technology company, Wolt has built a strong operational track record and foundation. 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. 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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