Bolt receives USD 709 mln to expand transportation and food delivery app

Tuesday 11 January 2022 12:17 CET | News

Estonia-based hire vehicle company Bolt has announced it raised approximately USD 709 million at a valuation of USD 8.4 billion to continue expanding its super app.

The company operating in Europe and beyond will use the money to improve its ride sharing market, expand the 15-minute grocery delivery option Bolt Market, and build new “dark stores” in other cities.

The new funding was led by Sequoia Capital, among others, and came only four months after a Series E funding led by the same company. As a result of the extensive funding, Bolt counts for over 100 million customers in 45 countries and more than 400 cities using its services. 

Bolt was founded in 2013 in Estonia as a ride hailing company to emerging markets, distinguishing itself from other similar companies like Uber who capped most of the developed countries around the world. 

It continues to focus on Eastern European and African markets because of a higher demand in these countries but the same growing model has been successfully replicated in Western Europe, so Bolt officials are looking to geographically expand their business. 

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Keywords: Bolt, funding, expansion, delivery, sharing economy, ecommerce
Categories: Payments & Commerce
Companies: Bolt
Countries: World
This article is part of category

Payments & Commerce


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