Europe's Ride Hailing Startup, Bolt Secured Funding of US$711 Million

The ride hailing startup is being valued at USD$8.4 billion


Wilson Twoon

11 Jan, 2022

Europe's Ride Hailing Startup, Bolt Secured Funding of US$711 Million | BEAMSTART News

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Bolt, the ride hailing startup from Estonia, has secured a funding amounted to $711 million which is led by Sequoia Capital and Fidelity.

According to CNBC, investors behind the funding includes Bolt's existing investors, capital management firms Whale Rock and Owl Rock.

Markus Villig, Founder of Bolt

“We’ve developed products that offer better alternatives for almost every purpose a car serves. We’re committed to collaborate with cities to help people consider shared mobility options like ride-hailing and light vehicles to create more sustainable urban areas," Markus Villig, founder of Bolt, commented.

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Bolt was first founded in 2013 by a 19-year-old named Markus Villig. Bolt's mission is to promote the freedom of movement where people are not forced to buy a car to travel.

His inspiration behind Bolt was a problem he faced regarding getting a taxi ride, which was not only expensive, but also time-consuming.

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After years of development, Bolt has established itself primarily in the European and African markets, with over 75 million customers combined.

What differentiates Bolt from other ride hailing firms is that all of Bolt's rides are carbon-neutral, aiding their Green Plan to:

  • Reduce CO2 emissions
  • Create greener cities
  • Reduce ecological footprint

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