Advising Wolt on USD 160 million financing round

Taylor Wessing has advised Helsinki-based food delivery service, Wolt, on its recent USD 160 million financing.

The latest funding consists of two previously undisclosed rounds. This includes the most recently closed USD 130 million Series C undertaken by Taylor Wessing and led by ICONIQ Capital.

A previous USD 30 million Series B was led by 83North in January 2018. Total funds raised now stand at USD 175 million.

Wolt will use the new financing to continue investing in global growth and expansion.

Since launching in 2014, Wolt has expanded to a total of 15 countries and 50 cities. Wolt’s solution to food delivery is based on its proprietary technology: the company’s platform optimises logistics in real-time, allowing Wolt to deliver food in an efficient way.

Commenting on the transaction, partner and international head of the firm's Technology, Media and Communications sector group, Mike Turner, who led on the deal for Wolt said: "Wolt's rapid global growth, coupled with its passion for excellence in everything it does, make it a very exciting prospect for the future. Wolt is rapidly becoming a leader in the market with its proprietary technology. We share this ethos of transforming the markets we operate in through cutting-edge technology and we are pleased to have brought our depth of experience to bear."

Miki Kuusi, co-founder and CEO, of Wolt added: "The team at Taylor Wessing provided excellent advice throughout this fundraising. They helped us navigate a range of complex issues, underlining their position as a firm that understands technology-powered businesses. This new round of fundraising is a testament to how far we have come as a business and Mike and Siobhán were integral to securing this result for us."

The team was led by Mike Turner with support from senior associate Siobhán Langwade (Corporate Technology).