It’s snowy in Helsinki, but that’s not stopping local food delivery company Wolt. It’s just raised $530m in a round led by ICONIQ Growth to expand its speedily-growing retail delivery service faster and further.
This time last year, Wolt had 700 employees, was operating in 20 countries and reported €87m turnover in 2019. Now, it’s in 23 countries and 129 cities, has more than 2,200 employees and saw revenue triple in 2020 to $345m. It also has a growing network of retail partners in nearly all of its markets, and has started preparing for an IPO.
“Covid has changed our perspective on how big a business like us can be,” says Miki Kuusi, Wolt’s CEO and cofounder.
So, just how big is big?
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