Wolt prepares for the potential economic downturn caused by Covid-19, raises new financing

• Today, Wolt announces €100 million in new financing

• "We've seen how several companies in our industry are already facing challenges – this financing allows us to be better prepared for the continued uncertainty within the global economy", says CEO Miki Kuusi

• The Helsinki based technology company now operates in 22 countries and 80 cities, partnering with more than 20,000 couriers and 10,000 restaurants

Helsinki, 15.5.2020 – Wolt, the Helsinki based technology company known for its food delivery service, announces €100 million in new financing. The round was raised from existing investors – including ICONIQ Capital, Highland Europe, 83North and EQT Ventures – with Goldman Sachs Growth Equity participating as a new investor.

“We would not have raised this round if it wasn’t for the global Covid-19 crisis and the potential downturn we see in the near-future. It’s our responsibility to do everything that we can to be as well-prepared as possible given the uncertainty within the current economy. By raising this financing we’re better positioned to be here for our 10,000 partners on the restaurant and 20,000 partners on the courier side, along with the 1,000 employees that work at our offices across our markets. This financing also gives us room to accelerate in markets where we see the competitive situation continuing to rationalise.” Miki Kuusi, Wolt CEO & Co-founder says.  

Facts: 

• Wolt is headquartered in Helsinki, Finland and employs more than 1,000 people.

• Wolt serves over five million customers in 22 countries and 80 cities.  

• In total Wolt has raised €258 million in financing.