Helsinki based food delivery company Wolt has managed to raise huge funding of $530m in a round led by ICONIQ Growth with participation from Tiger Global, DST, KKR, Prosus, EQT Growth, and Coatue. In 2020, the company has provided the services in 23 countries, 129 cities and tripled their revenue to $345m in comparison to $87m generated in 2019. Food-Delivery
Wolt’s CEO and Co-founders Mikki Kussi in his statement given to Techcrunch says
“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. 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. 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”.
Hire Wolt Food-Delivery Startup Raises $530m to expand its Fastest Growing Retail Service
LET’S KNOW MORE about the Wolt App
Wolt, as mentioned on their website is an online platform to discover great and delicious food. Launched in 2015 with just 10 local restaurants, Wolt is successful in expanding its business operations in 23 countries and 129 cities with 2200 employees in Europe, Japan, and Israel. The intention is clear as they don’t want to limit themselves in the food delivery services and are looking to expand business in the grocery as well. Food-Delivery
WOLT APP Features
Wolt, a fast-growing food delivery startup has gained attention from many people within 5 years and the reason is quite obvious, i.e the valuable features that they added into their apps. Let’s check out the important features of Wolt’s customer app and courier partner apps, that makes it the preferred choice of people:
Order booking and Product Search Filter :
The customers can find the restaurants from the listed ones by using the product search filter like categories, cuisines, location, and ratings, etc. to place the order of their favorite meal.
Pickup and Delivery Scheduling :
In order to book food in advance and get it delivered later, the app gives an option to schedule the delivery at their preferred time.
Order Tracking :
The customers can track their orders in real-time within the app and get an estimate of the arrival time.
Push Notifications :
Customers get notifications/alerts about their order status, delivery boy, latest offers, and coupons applicable for their next order.
Multiple Payment Methods :
With the availability of different payment methods, customers can opt for their preferred payment option to pay their bills. It’s very easy and makes the process fast.
Ratings & Feedback :
Based on their experience, they can give their feedback to the app regarding the food quality, delivery time, delivery boy, and also about the app experience as well.
Similar to delivery boys, they hire courier delivery partners, who are interested to be a part of their food delivery services. The courier person can choose their own time slot and earn money by delivering food
Here are the app functionalities
Get Started :
Apply to become a Wolt courier partner and they will get back to you with further details. Just create an account and fill in all the essential details.
Set your Availability :
Once your profile is created, you can access it via the Wolt courier app, and set availability as they like. One can pick up the timings that are more convenient as per the daily schedule. However, booking time slots prior are always beneficial.
Get Live Updates :
Courier partners get live updates about the next meal delivery on the app so that they can manage their deliveries accordingly. Additionally, they can check their earnings at the same time.
Previous Task :
Courier partners can check the detailed summary of the previous tasks completed by them by using this functionality of previous tasks added in the app.
Payouts and Earnings :
Within the app, they can check their earnings/payouts received from their previous orders, and based on that they can plan the count of their future trips in order to increase their earnings.
HOW DOES it Work?
Wolt is an easy-to-go food-delivery app that offers the best and seamless user experiences to its customers. Watch this video to understand the flow and the steps it follows to accept and process the orders:-
HOW DOES WOLT increase its Weekly Sales?
As per the article published by Google, Wolt mentioned that they got to know from the restaurants that they lost 50-80% weekly sales, which led Wolt to think about increasing the overall demand which was the only way to improve their weekly sales. Therefore, they made a number of changes and updates in their food-delivery services to support the local businesses, their employees, and common people. Wolt introduced contactless food-delivery and waived restaurants commission for 30 days + started introducing and highlighting local independent restaurants.