Fintech
Local trading platform Wolt introduces a new service: Wolt Capital
Local commerce platform Wolt announced the launch of its new service providing quick and easy additional financing for merchants, Wolt Capital.
The new solution is tailored for small businesses, such as restaurants, that sometimes require quick access to capital to maintain operations and secure investments in future growth.
Small business costs are often unexpected. A restaurant, for example, requires capital investments to cover unexpected expenses, kitchen renovations, new store openings, and typical operating cost fluctuations.
Wolt: Adapting services to meet customer needs
In launching Wolt Capital, the local trading company took into account customer needs to provide a service that better supports SMEs that need immediate access to capital.
Edward Daka, Product Lead, Banking & Payouts at Wolt says: “We always listen to our partners and tailor our services and offerings to meet their needs. Quick and easy access to capital regularly emerged in our conversations with traders.
“That’s why today we are excited to introduce Wolt Capital. This initiative is designed to support the success and growth of merchants by giving them the opportunity to access transparent financing.”
SMBs that rely on traditional financing options are often at the mercy of stringent regulations and requirements that banks must manage, which can prevent small businesses from accessing the immediate capital they need.
Wolt Capital changes this dynamic by offering revenue-based financing to merchants with a proven record of sales on the Wolt platform. This financing can be used for various business needs, including purchasing equipment, marketing, rent, hiring, payroll and more.
Nezir Giray from Ismet Jätkäsaari, a famous 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 quick, efficient process make it an invaluable financial tool for entrepreneurs like me.”
How Wolt Capital works
But how does Wolt Capital work and how are funds delivered seamlessly to Wolt customers? The new service is made possible thanks to Wolt’s partnership with Finmid, a financial infrastructure provider.