Case: Platform-Powered Finance: Turning Merchant Data into Working Capital at Wolt
Anniina Heinonen — Managing Director, Payments at Wolt
World Capital, a merchant cash advance service launched by World, addresses SMB financing challenges by offering pre-approved, data-driven funding directly through merchants' everyday app, enabling quick access without KYC processes and flexible repayment via direct deduction. Launched in June and expanded to fourteen European markets within nine months, it leverages World’s extensive merchant network, proprietary data, local teams, and partnerships with Finmit. With high renewal rates and low default scores, it functions as a practical working capital solution, underscoring the future of SMB lending embedded in tech-enabled platforms.
"The biggest problem is that SMBs can't grow because they can't access financing. Access to financing is not just to run your business, but a vehicle to speed up growth. When merchants grow, the whole ecosystem grows."
Summary
- World Capital is a merchant cash advance service launched to support SMB financing using proprietary data and platform reach. - Operating in 30+ markets with 50M users, World holds multiple financial licenses enabling in-house financial services. - Nearly 1/3 of restaurants fail due to funding lack; World Capital offers easy, pre-approved funding with simple repayment via payouts. - Merchants use funds mainly for operational expenses; the service boasts high renewal rates and strong merchant satisfaction. - Expansion to 14 markets in 9 months shows fast growth despite regulatory challenges, emphasizing partnerships and data-driven strategy.
Article
Platform-powered finance: how Wolt is turning merchant data into working capital
Fintech innovation tackles SMB funding crisis head-on
Amid staggering statistics showing nearly one-third of restaurants fail due to lack of funding, Wolt has developed a novel solution to the persistent small business financing gap. At the Nordic Fintech Summit, Anniina Heinonen unveiled how the delivery platform giant is leveraging its unique position and data to revolutionize SMB lending.
From food delivery to financial lifeline
"World Capital is probably the easiest way for merchants to get funding—with pre-approved offers based on their performance data, accessible through an app they use daily, and funds transferred within 24 hours without any hassle," Heinonen told attendees at the 2025 summit.
Launched in June 2024, World Capital represents a significant evolution for the platform, which now serves over thirty markets with fifty million end users and holds multiple financial licenses including payment institution and e-money licenses from FIN-FSA.
The merchant cash advance service has expanded to fourteen European markets in just nine months, demonstrating the company's aggressive growth philosophy: "once proof of concept is solid, expand rapidly across as many markets as possible to enable fast growth," explained Heinonen.
Solving the SMB financing puzzle
The financing model addresses a critical market failure in small business lending. Heinonen highlighted how traditional banking systems fail small businesses even in developed northern European markets.
"SMB business needs are usually simple—funds go to new appliances, renovations, or modest investments. The process to get support should not be a huge burden," she noted.
The platform's approach eliminates traditional friction points in lending. Merchants receive pre-approved offers based on their performance data and local benchmarks, with no need for separate KYC processes or formal applications. Funds typically range from €3,000-€30,000 and transfer within 24 hours of acceptance.
Perhaps most innovative is the repayment mechanism—the advance is automatically deducted from the merchant's regular platform payouts, creating a seamless experience while simultaneously mitigating collection risk.
Data as the competitive edge
The core of World Capital's offering isn't just convenience, but the platform's unique data advantage. By analyzing merchant performance across its network, Wolt can make informed lending decisions that might elude traditional financial institutions.
"Success in SMB lending demands strong reach to merchants, local relationships, tech expertise, a clear vision, unique data, and essential partnerships," Heinonen emphasized.
This data-driven approach appears to be working—the service boasts remarkably low non-performing asset scores and high renewal rates, indicating merchants are using it as an effective working capital management tool rather than emergency financing.
The partnership model
Central to the expansion has been Wolt's partnership with fintech provider Finmit, highlighting the company's strategic understanding of the financial ecosystem: "Understanding your position in the ecosystem is key—if you have unique data and customer access, build your strategy around that; if you supply the fuel, focus on delivering it efficiently."
Despite rapid growth, Heinonen acknowledged scaling challenges, particularly around unharmonized European regulations that create barriers for companies trying to expand across markets.
The future of embedded finance
As the lines between tech platforms and financial services providers continue to blur, Wolt's approach may represent the future of SMB lending—embedded directly into the tools and platforms businesses already use daily.
With high merchant satisfaction scores and practical use cases addressing real business needs, World Capital demonstrates how platform companies can leverage their unique position to solve persistent financial challenges for their users.
As Heinonen concluded her presentation at the Nordic Fintech Summit, she left the audience with a powerful thought on the future of small business lending: "It might be in your merchant app."
Part of Nordic Fintech Summit