This is what we strive to make into a reality with our team at Wolt”. “We believe that the future of how people buy Nike shoes is a few taps on Wolt and some 30 minutes later you get any pair of shoes brought to your door. “Today, Wolt is much more than a restaurant delivery service you can order groceries, electronics, flowers, clothes and many other things on our platform,” he explains. On this foundation, Wolt is expanding into other ordering and local delivery verticals, aiming to be what Kuusi dubs as “the everything app” of goods and services. We simply had no other choice than to do it this way as we came from such a difficult home market”. “This means that we can operate efficiently even with relatively low order volumes, enabling us to grow and expand rapidly with much less financing than some of the other players in the market. To solve this, Wolt needed to build an “optimization-heavy logistics setup for last-mile delivery” that Kuusi says lets the service operate even in “very small cities with low income disparity, limited population density and high labor costs”. However, this was especially difficult to do efficiently and sustainably in a small and difficult home market in the Nordics. We do this by handling the complexity of the delivery on the restaurant's behalf”.
“We quickly learnt that the magical product market fit for bringing the restaurant online was to offer a quick and predictable delivery experience from restaurants that didn't use to be available for delivery. “We started with an exclusive focus on the restaurant, as it's the biggest local service with an underlying high-frequency use case,” he says.
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Kuusi says that the latest funding round is based on the belief that local services in the offline world will gradually be brought online by players “that can execute and maintain a great customer experience”.
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