Finnish Food Delivery App Wolt Is Coming to Tel Aviv

Helsinki-headquartered food order and delivery service Wolt Enterprises Oy is coming to Israel. The company has appointed a local CEO, Imri Galai, who until recently was the general manager of Chinese bike sharing company Ofo in Israel and previously held senior positions at both Gett and Airbnb. The company has also published a job listing on its website, looking for an operations associate and a restaurant partnership manager in Tel Aviv.

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Founded in 2014, Wolt works mainly with restaurants and food stalls that have no delivery service of their own. Users make an order through the company's app, and the company makes the delivery via bike, bicycle or car delivery, depending on the city and weather conditions. The company currently operates in over 30 cities in Europe and has raised $15 million to date.

In July, Amsterdam-listed food delivery company Takeaway.com NV has agreed to pay 135 million euros for Tel Aviv-based 10bis.co.il Ltd., a local company specializing in lunch cards given out to employees of local tech companies as perks. While 10bis is the market dominator, other competitors exist, such as Cibus Sodexo. Both companies work on a commission business model, with 10bis charging an average commission of 6%-7% of the dish's price for meals eaten at the restaurant, and 10%-12% for deliveries.

Wolt might receive a warm welcome from local restaurateurs, who are currently conducting a campaign against the commission rate imposed by 10bis and Cibus as well as the current market regulations.

Wolt has yet to respond to a request for comment.