Helsinki, July 3, 2024 – Technology company Wolt and Renow, a Finnish recommerce growth company, have started cooperation in Helsinki. The new collaboration enables Wolt’s customers to access Renow Outlet’s versatile selection through the familiar Wolt application, bringing used, almost new smart watches, headphones and other branded devices directly to customers’ doorsteps in 30 minutes.
The aim of the cooperation is to offer customers an easy and reliable way to acquire high-quality used and almost new electronic products at an affordable price points, while promoting sustainability by reducing electronic waste. Renow Outlet’s discounts are on average 30% compared to the price of a similar new product. The cooperation will initially be piloted in Vallila, Helsinki, where Renow Outlet’s products are located in Wolt Market’s premises.
“We are excited to be able to offer our customers access to high-quality used electronic products easily and quickly. Currently, more than a quarter of all Wolt orders are other than restaurant food, and electronics is definitely a growing category,” says Ilari Nikku, Commercial Director of Wolt Finland .
Renow is a circular economy software company that develops and provides AI-based recommerce platform. The company’s operating model is based on highly automated processing and sale of 2nd cycle products. The products come directly from multitude of companies. All products are condition-checked, almost new customer return or demo products and have a standard right of return and a 12-month functionality warranty. The customer can therefore be confident about the functionality of the product.
“The recommerce market is growing 5x faster on average compared to the general retail sector. Consumers’ purchasing behaviors are particularly driven by low prices and sustainability – we strive to meet this demand. Consumer electronics is one of the fastest growing product categories in recommerce, along with fashion and this cooperation with Wolt brings our products within reach of a new kind of customer base. This is an important step to us towards more sustainable ecommerce”, says Antti Ijäs, Renow’s Chief Product Officer and one of the company’s founders.
Recommerce products can be found in the Wolt application under the name Renow Vallila.
More information:
Wolt: Communications, media.fi@wolt.com
Renow: Antti Ijäs, CPO, antti@renow.ai
Renow Oy is a Finnish circular economy software company founded in 2022 that develops and provides an AI-based recommerce platform and operates the Renow Outlet marketplace. Our purpose is to reduce waste by extending product lifecycle and reduce unnecessary transportation and handling of goods.
Wolt is a Helsinki-based technology company that provides an online platform for consumers, merchants and couriers. On Wolt’s app, customers can easily discover and order their favorite meals, fresh groceries and local goods delivered to their doorstep. To enable this, Wolt develops a wide range of technologies from local logistics to retail software and financial solutions – as well as operating its own grocery stores under the Wolt Market brand. Wolt’s mission is to make cities better by empowering and growing local communities. Wolt was founded in 2014 and joined forces with DoorDash in 2022. DoorDash operates in more than 30 countries today, 27 of which are with the Wolt product and brand.
