Bolt Food, the food delivery unit of transportation company Bolt, has partnered with Finmid to launch an Embedded Lending offering. Bolt Food Finance, the name of the offering, offers restaurants and small businesses flexible funding via its software platform (finmid).
Initially, the service is launched in Latvia with plans for European expansion. The program allows pre-approved partners to access loans of up to €30,000 (or €200,000 on request) within 24 hours through a streamlined online process.
The financing includes a revenue-based repayment model where restaurants pay back a fixed percentage of their monthly Bolt Food platform revenue, rather than fixed payments. The funds can be used for various business needs, including equipment, renovations, hiring, or marketing.
finmid’s strong focus on food delivery platforms
Two things stood out for me. Firstly, for once, a company is calling their embedded lending offering “Finance” and not “Capital”. Secondly, and on a more serious note, finmid seems to be highly focused and successful in the European food delivery ecosystem. Besides Bolt, also Wolt (part of DoorDash) and Glovo (part of Delivery Hero) are partnering with finmid, likely driven by finmid’s broad European coverage, a crucial feature for many of these pan-European platforms.
Bolt Food, the food delivery unit of transportation company Bolt, has announced an Embedded Lending partnership with finmid.
