![]() ![]() He said the pandemic has accelerated the shift toward food delivery by six to eight months. Kuusi said Wolt hasn’t even spent any of those funds, but is now building up a war chest and focusing on growth over profitability. In 2020, the company has provided the services in 23 countries, 129 cities and tripled their revenue to 345m in comparison to 87m generated in 2019. Last May, as the pandemic battered economies across the world, the company raised 100 million euros ($122 million) in a round led by Goldman Sachs Growth Equity to prepare for an economic downturn. Helsinki based food delivery company Wolt has managed to raise huge funding of 530m in a round led by ICONIQ Growth with participation from Tiger Global, DST, KKR, Prosus, EQT Growth, and Coatue. In the past year, it’s expanded services beyond restaurant takeaway to delivering groceries and retail goods like pharmaceuticals. Wolt, which launched in 2015, is available in 23 countries and more than 120 cities. We’re going to continue to expand in retail.” “We’re going to continue to expand to new countries and new cities. “With this round, we’re able to take a much more long-term approach when it comes to thinking about investments and thinking about opportunities,” said Kuusi. It wants to complete preparations for an initial public offering this year so its shares can begin trading as early as the end of the first half of next year, said Miki Kuusi, Wolt’s chief executive and co-founder. Last year Wolt’s revenue tripled to a preliminary $345 million with a net loss of $45 million. is valued at $61 billion after its public trading debut in December. startup Deliveroo raised $180 million this month, while in the U.S. New backers joining the round included KKR & Co., Tiger Global Management, DST Global, Prosus NV and Coatue Management.įood delivery companies have been flooded with cash from investors betting the pandemic brought a permanent shift in consumer habits. The Series E round led by Iconiq Growth brings the total raised by Wolt to $856 million, the company said in a statement Monday. (Bloomberg) - Finnish startup Wolt has raised $530 million and is preparing for a potential 2022 stock market listing in its effort to rival the big players in a surging food delivery industry. ![]()
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