Wolt food delivery getting ready to expand into Icelandic market

Leading food delivery app Wolt – also a leading food delivery app in Israel – has expanded its operations to Iceland, making it the 24th country to join the platform and the first since the end of the coronavirus period. The company’s activity in Iceland was launched this week in the capital city of Reykjavík, with over a hundred restaurants and businesses and dozens of local couriers.

Wolt’s launch in Iceland marks another milestone in the company’s expansion efforts, and its entry into the market is expected to bring more options and convenience to Icelandic customers.

“Iceland is an interesting and relevant market in our eyes,” said Wolt’s manager of local operations, Elisabeth Stenersen. “Wolt has a lot of experience in activities in small settlements, such as for example in northern Finland and Norway. In addition, we feel a connection to Iceland as a society with Nordic roots. We have been wanting to expand to Iceland for a long time and we are happy about the warm welcome.’

Considering the application’s Finnish origins, the move to Iceland seems like a logical step. Wolt was founded in Helsinki in 2014 as a restaurant food delivery platform and has since expanded to over 20 countries worldwide.

DoorDash acquired Wolt in 2021

The American delivery giant DoorDash acquired Wolt in a deal worth billions of euros in November 2021, which was finalized in June 2022. The acquisition was a strategic move to expand the American delivery giant’s reach and capabilities. With the acquisition, DoorDash now has access to Wolt’s technology and expertise, as well as a stronger presence in the Nordic region. As the food delivery industry continues to grow and become more competitive, this acquisition could give DoorDash a significant advantage in the market.

The expansion of Wolt’s operations to Iceland may not have a direct impact on Israelis who use the Wolt app. However, it could have a broader impact on the company’s overall growth and success, which could ultimately benefit customers in Israel and other countries.

By expanding to new markets like Iceland, Wolt is able to increase its customer base and revenue streams, which can support further investments in technology and innovation. This, in turn, can lead to a better user experience for all Wolt customers, including those in Israel.

The company continues to develop its offering in Israel, as well. Last year, Wolt partnered with leading Israeli pharmacy brand Be Pharma to offer non-prescription drugs with immediate delivery in under an hour. Among the drugs available for delivery are painkillers, children’s medicine, sleep medicines, throat and stomach pain relief and the morning-after pill.