Arma Partners is pleased to announce that it has acted as financial advisor to Wolt on a $530 million growth capital raise led by ICONIQ Growth.

New investors in this round include Tiger Global, DST, KKR, Prosus, EQT Growth and Coatue. Existing shareholders 83North, Highland Europe, Goldman Sachs Growth Equity, EQT Ventures and Vintage Investment Partners also participated in the transaction.

Wolt is a Helsinki-based food delivery service with operations in 23 countries and 129 cities, which partners with over 30,000 restaurants. The new funding will enable Wolt to further strengthen its balance sheet, build even stronger positions across markets, and continue to expand its offering beyond restaurants.

This landmark transaction underlines Arma Partners’ position as a market-leading advisor on private capital fundings through its Private Capital practice, illustrating our particular expertise in late stage growth capital and Pre-IPO rounds. The transaction also highlights Arma Partners’ outstanding track record of building long-term client relationships as a trusted advisor (having advised Wolt for the third time in the last 24 months) and experience as the leading specialist advisor in Foodtech.