Local Commerce Platform Wolt Launches Wolt Capital
Local commerce platform Wolt has announced the launch of its new service providing fast and simple additional financing for merchants, Wolt Capital.
The new solution is tailored to small businesses, such as restaurants, which sometimes require quick access to capital to maintain operations and secure investment in future growth.
Small business costs are often unexpected. A restaurant, for example, requires capital investment to cover unexpected expenses, kitchen renovations, new storefront openings and fluctuations in typical operating costs.
Wolt: Adapting services to meet client needs
In launching Wolt Capital, the local commerce company has taken client needs on board to deliver a service that can better support SMEs in need of instant access to capital.
Edward Daka, Product Lead, Banking & Payouts at Wolt says: “We are always listening to our partners and adapting our services and offerings to meet their needs. Fast and simple access to capital has regularly come up in our talks with merchants.
“That’s why today, we’re excited to introduce Wolt Capital. This initiative is designed to support the success and growth of merchants, giving them the opportunity to access transparent financing.”
SMEs that rely on traditional financing options are often at the mercy of stringent regulations and requirements that banks must manage, which can leave small businesses unable to access the immediate capital they require.
Wolt Capital changes this dynamic by offering revenue-based finance to merchants with a proven sales record on the Wolt platform. This financing can be used for various business needs, including purchasing equipment, marketing, rent, hiring, payroll and more.
Nezir Giray of Ismet Jätkäsaari, a popular Finnish restaurant and Wolt client, says: “My experience with Wolt Capital has been positive and I am grateful for the support I have received for my business. Its flexibility and fast and efficient process make it a valuable financial tool for entrepreneurs like me.”
How Wolt Capital works
But how does Wolt Capital work, and how are funds seamlessly delivered to Wolt clients? The new service is made possible thanks to Wolt’s partnership with Finmid, a financial infrastructure provider.
- Pre-Approved Advances: Eligible merchants will see a pre-approved advance amount in their Merchant Portal
- Fast Funding: If accepted, funds can be deposited in the merchant's bank account within 1-2 business days, with no additional paperwork required
- Transparent Costs: Merchants pay a one-time fee over the advance period, with no hidden charges, recurring interest, or prepayment penalties
- Automated Repayment: Repayments are based on a percentage of Wolt sales, making it flexible according to business performance
During the piloting of Wolt Capital, over a hundred Wolt merchants utilised it successfully, which will see the service roll out in additional markets soon.
Edward Daka adds: “With Wolt Capital, we aim to provide our partners with an accessible financing option, helping them invest in their future growth. We will continue to develop products and services that strengthen our merchant community and ensure their continued success.”
“While we are constantly evaluating new markets, Wolt Capital is now available to all eligible restaurants in Sweden, Poland, Finland and Denmark.”
In October 2023, Wolt spoke to FinTech Magazine about deploying a safety net into the platform economy, detailing how it creates insurance fit for this market.
Wolt is a Helsinki-based technology company that provides an online platform for consumers, merchants and couriers. On Wolt’s app, customers can easily discover and order their favourite meals, fresh groceries and local goods delivered to their doorstep – whether that’s home, the office or even a park.
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