Tallinn-based Bolt raises €628m funding round to accelerate transition from owned cars to shared mobility
Tallinn-based Bolt announced the closing of €628 million round of funding, its largest funding to date. This funding round will help Bolt accelerate its mission to help cities transform urban areas into sustainable, people-friendly spaces and further help people move around safely, affordably and conveniently.
The investment round was led by Sequoia and Fidelity Management and increased Bolt’s valuation to €7.4 billion.
Markus Villig, Founder and CEO, Bolt: ''For decades, cities have been built for private cars, rather than the people living and working in them. At Bolt, we think this approach is outdated, which is why our mission is to create cities for people, not cars. We’ve developed products that offer better and more affordable alternatives for almost every purpose a private car serves. We’re committed to working with cities to help people make the switch towards shared mobility options like ride-hailing and light vehicles to transform urban areas into sustainable, people-friendly spaces.''
Bolt will also use the funds to expand and further improve its full suite of mobility and delivery products, which are currently used by more than 100 million customers in 45 countries and over 400 cities across Europe and Africa. One example is Bolt Market, developed and launched during the pandemic and already operating dozens of stores in ten countries across Europe.
This new investment will help Bolt accelerate its expansion rapidly in 2022 as the company plans to have hundreds of stores operational by the end of the year.