Finnish food delivery service Wolt has just gobbled up a $130 million funding round led by ICONIQ Capital, with participation from existing investors 83North, EQT Ventures, Highland Europe, and Lifeline Ventures.
Founded in 2014 in the Finnish capital, Wolt is a service that facilitates the delivery of food from local restaurants to customers in the same way as the other players in this niche. The company currently operates in 50 cities across 15 countries and employs 450 people. It also claims to be working with more than 5,000 restaurants and 10,000 couriers.
“The online food delivery market is estimated to grow globally from $35 billion today to $365 billion by 2030,” said Miki Kuusi, co-founder & CEO of Wolt. “This is a massive opportunity across all geographies for companies like Wolt to tackle. 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 what Wolt focuses on — building the most efficient company in food delivery.”