![]() “We started with an exclusive focus on the restaurant, as it's the biggest local service with an underlying high-frequency use case,” he says. Kuusi says that the latest funding round is based on the belief that local services in the offline world will gradually be brought online by players “that can execute and maintain a great customer experience”. 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”. “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. “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,” says co-founder and CEO Miki Kuusi in a statement. Wolt declined to disclose the company's latest valuation, although we know from the previous D round that the company is one of Europe's so-called unicorns. The new round takes the total amount of financing Wolt has raised to $856 million. Previous backers 83North, Highland Europe, Goldman Sachs Growth Equity, EQT Ventures and Vintage Investment Partners also followed on. The round was led by Iconiq Growth, with participation from Tiger Global, DST, KKR, Prosus, EQT Growth and Coatue. Compared to the $662m in new capital that we’ve raised during the past year, this puts us into a strong position for investing in our people, technology, and markets when thinking about the next few years ahead.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 new funding. ![]() “Despite the turbulence of 2020, we’ve remained focused on growth, tripling our revenue to a preliminary $345m against a net loss of $45m. “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,” added Kuusi. Since then, it has expanded to 23 countries and 129 cities and, in the past year, has moved beyond restaurants and takeaways into the grocery and retail sectors – selling anything from cosmetics to pet food and pharmaceuticals. Wolt was launched in 2015 with just 10 restaurant partners. “We raised this round of financing to further strengthen our balance sheet, allowing us to think long-term and double down on building even stronger positions across our markets while continuing to expand our offering beyond the restaurant,” said Miki Kuusi, CEO and Co-founder of Wolt. ![]() Wolt’s total financing now stands at $856m, although the company has not disclosed its current valuation. The latest funding round was led by Iconiq Growth and included new investment from Tiger Global, DST, KKR, Prosus, EQT Growth, and Coatue, as well as financing from existing investors including 83North, Highland Europe, Goldman Sachs Growth Equity, EQT Ventures, and Vintage Investment Partners. ![]() Wolt, a Helsinski-based food delivery company, has secured a further $530m in funding as it looks to continue expanding its business beyond food delivery. ![]()
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