Wolt closes $530m funding round

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. The round was led by Iconiq Growth, with participation from Tiger Global, DST, KKR, Prosus, EQT Growth and Coatue.

Previous backers 83North, Highland Europe, Goldman Sachs Growth Equity, EQT Ventures and Vintage Investment Partners also followed on. The new round takes the total amount of financing Wolt has raised to $856 million. 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.

Since launching with 10 restaurants in its home city in 2015, five years on Wolt has expanded to 23 countries and 120 cities, mostly in Europe but also including Japan and Israel. More recently, like others in the restaurant delivery space, Wolt has expanded beyond restaurants and takeout food into the grocery and retail sectors. This, says the company, sees it offer anything from cosmetics to pet food and pharmaceuticals on its platform.

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