Panayiotis Rougalas
Wolt, the platform connecting consumers, local businesses, and delivery partners, has lent nearly €2 million to small and medium-sized enterprises (SMEs) in Cyprus.
Since 2024, Cypriot SMEs have been able to access capital through “Wolt Capital,” with more than 1,500 businesses already eligible. According to company data, Wolt Capital has financed roughly 10% of eligible businesses so far, totaling €1.98 million.
Wolt Capital can provide up to €18.1 million in loans, which eligible companies can access. During a visit to Cyprus last week, company executives said Wolt Capital, launched in 2024, offers an affordable financing tool for businesses to cover operational needs.
Andreas Papayiannis, general manager of Wolt Cyprus, said, “Dozens of small and medium-sized enterprises in Cyprus have already used it to invest in their growth and strengthen their operations, bypassing traditional financing methods that require strict criteria and take time.”
He added, “Wolt has immediate visibility into the business requesting a loan. We see the company’s performance every hour, every moment. Banks don’t have this kind of real-time information, because a business can apply for a loan based on last year’s or the year before’s performance, not its current situation, which is the most important.”
The program, developed in partnership with FinTech company Finmid, offers interest-free financing with a fixed service fee. It is primarily aimed at retail and foodservice SMEs seeking growth, modernization, or implementation of business plans.
Loans are available only to companies, not individuals. Funds are deposited in the applicant’s bank account within one to two business days of approval. Repayment is automatic based on platform sales, with no interest but a pre-agreed fixed service fee.
Wolt in Cyprus
Founded in Finland in 2014, Wolt operates in more than 30 countries and has been part of DoorDash since 2022. Wolt began operations in Cyprus in 2020 and now serves five cities: Nicosia, Limassol, Larnaca, Paphos, and the Famagusta Free Area.
The company partners with over 4,000 businesses and 3,000 delivery personnel. Its Cypriot team now includes more than 100 employees, and it operates eight Wolt Market stores nationwide. Sales grew roughly 200% in 2024 compared with 2022, with double-digit growth recorded in 2023–2024.
Over the past three years, more than 2,000 new businesses joined the platform. Wolt Market reports an average annual sales increase of 213%. Since its launch in Cyprus, more than 10,000 delivery partners have worked with the company.
