Helping Wolt grow internationally

Hear directly from the team at Wolt, an e-commerce company that started in Finland and is expanding into new markets, about how Citi’s global network and solutions has helped them expand internationally.
Wolt as a business was founded in 2014 here in Helsinki in Finland. As we've grown, we've moved from food delivery into over the counter medicine, groceries, chocolates, flowers, anything you want in the city so consumers have access to anything at their doorstep. Right now, Wolt operates in 23 countries, over 300 cities, with about 7,000 employees.
In the very early days right after founding, we realised that our expansion needs were going to be quite dramatic so as we knew that we were going to expand in a lot of countries, we approached Citi because we knew that they could be a global banking partner.
Citi Commercial Bank Spokesperson:
I remember the meeting with the founders back in the days in 2015, '16, and we had a whiteboarding session. Wolt explained this new business model of having your food delivered, supporting restaurants, local communities, and we were truly fascinated by the entrepreneurial spirit, the energy.
What was important for Wolt at the time was to really find the global bank, which they could scale with, and we're truly grateful that Wolt decided to go with Citi.
Citi had great customer service, a single point of contact, and gave us lots of advice on how to set up our banking structures.
As Wolt has grown, we have entered new markets with new currencies and new payment methods, which means that the whole payment landscape has changed and become more complex.
In addition to cash management, FX, trading guarantee needs, we have also built upon our connectivity, the global connectivity. We were able to make sure that the Wolt Treasury in Finland has the control and access as they needed to commercial flows.
Apart from a robust payment engine, Citi also provides a very good centralised platform, great visibility, and possibility to manage liquidity from centralised treasury,  which we do. They have lots of global tools that are really important for us.
Citi Commercial Bank Spokesperson:
I truly enjoy working with the team at Wolt. Trust has been key for our relationship and we continue to build on that.
In our rapid growing environment, having somebody that you can trust, that you can rely on, that is there on that journey for you, we've really loved that partnership with Citi.
Citi Commercial Bank Spokesperson:
I remember meeting one of the founders in the early days and he explained that they're doing this expansion, not because it's easy, it's because it's nearly impossible and they're truly disrupting something, and of course it's super exciting to see what's next, right?
We've only just gotten started as a company, it's very, very early days with regards to local commerce and our mission is to make cities better places to live and hope we can continue to do that together with Citi.



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