Wolt, a Finnish courier company with a strong tech base, has been acquired by the US-based DoorDash, operating in the same industry. Having seen strong growth in recent years, Wolt has now over 4000 employees and operates in 23 countries.
The transaction, expected to be finalised during the first half of the year 2022, will be all-stock, and the EUR 7 billion valuation at the time of the announcement could make it the second largest corporate transaction in Finnish history.
Wolt is a target company of funds by both Inventure and Investor, in which Tesi has invested. The eventual returns Tesi receives from the fund investments will be ploughed into market gaps which develops the availability of capital and the whole venture capital and private equity industry.
Update 06/22: The transaction was finalised in the end of May, beginning of June 2022, totaling EUR three billion at the time.
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII