Wolt has closed in on a 530-million-dollar deal in order to continue their expansion beyond delivering for restaurants.

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Wolt has closed in on a 530-million-dollar deal in order to continue their expansion beyond delivering for restaurants.

Wolt has raised 530 million dollars. This online ordering service has been expanding to various sectors in order to give them a delivery service. Currently they have gotten a funding of 530 million dollars. The 530 million dollars backing came from Iconiq Growth, the other backers who participated were the DST, KKR, Tiger Global, Coatue, EQT Growth, and Prosus.

The previous backers such as the Highland Europe, 83North, Goldman Sachs Growth Equity, as well as the Vintage Investment Partners and EQT Ventures also funded later on. The first round of the funding took the total funds to 530 million dollars, later Wolt got additional funding and it raised its funding to 856 million dollars. Although Wolt has clearly declined to release any funding statements they have received the word of the mouth is that 530 million has been funded to them, while the additional funds that raised it to 856 million dollars are just rumors at this point, the rumors also say that the funds raised is even more than that, but only time will tell.

Wolt has expanded itself to 23 countries, it was launched five years ago, back in 2015, by working with 10 restaurants at that time. Now it is in Europe, Japan, and Israel. Wolt used to only work in the restaurant department, but now it has increased its services and spread towards the grocery as well as retail section. The company will offer their deliver services from cosmetics, pet foods, and medicines, basically anything that is a need. The reason for Wolt being funded so much is because due to the pandemic, every local business is going online, and Wolt is there to provide them the necessary delivery services. Wolt has a great future ahead and its services have helped everyone.

 

 

 

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