By Ashemiriogwa Emmanuel
Bolt, a mobility company, has received an additional €600 million from global investors in a funding round to boost the expansion of its existing mobility and grocery delivery services.
The ride-hailing platform was able to raise fresh funds from existing investors, including Sequoia Capital, G Squared, D1 Capital and Naya, along with Tekne and Ghisallo as new backers.
The investment, which has increased the company’s valuation to over €4 billion, will accelerate the creation of effective solutions, features and products on the Estonian mobility first-ever super-app.
Speaking on the development, the Chief Executive Officer (CEO) of Bolt, Mr Markus Villig, remarked that the company, which took seven years to execute, will continue to create innovative alternatives for on-demand transportation.
“Bolt’s mission is to make urban travel affordable and sustainable. We are building a future where people are not forced to buy cars that cause traffic and pollution but use on-demand transport when they actually need it.
“After seven years of relentless execution, Bolt’s mobility and delivery products offer a better alternative to almost every use case a car serves. I’m thrilled to bring these products to millions of customers around Europe and Africa, taking the emphasis off cars and giving cities back to the people,” Bolt CEO said.
Adding his input, Mr Andrew Reed, a partner at Sequoia Capital, applauded Bolt’s effort in redefining modern transportation as he expressed optimism in partnering with the company.
According to him, “Bolt is redefining urban transportation in much of the world. Markus is a driven founder who has built an operationally excellent business spanning Europe and Africa and a mission-driven culture that forms the foundation of an enduring company. Bolt helps customers, cities, and the environment. We’re delighted to partner with them.”
On his part, the Country Manager of Bolt Nigeria, Mr Femi Akin-Laguda, said that the investment will better help Bolt to come up with possible solutions to satisfy their customers across 25 cities in Nigeria.
In his words, “Bolt will continue building solutions that alleviate everyday mobility challenges with our safe and affordable services while we also remain committed to providing market-leading earnings for our drivers.
“With this investment, we will keep introducing effective solutions, features, and products that are important to all our customers while having a positive socio-economic impact on the economy.”
Aduragbemi Omiyale 
Adedapo Adesanya 
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