Bolt, the leading European transportation platform, has closed an investment round of €100m as it continues to scale all of its product segments from ride-hailing to micromobility and food delivery in Europe and Africa.
The investment comes from Naya Capital Management, the global investment manager founded in 2012 by Masroor Siddiqui, a former partner at The Children’s Investment Fund, and brings Bolt’s total funds raised to more than €300m.
Bolt currently operates its ride-hailing services in more than 150 cities across Europe and Africa. In the last months, Bolt has accelerated the expansion of its Bolt Food delivery service to cover 12 countries and launched Business Delivery, a service to aid vendors in need of a distribution partner and offer same-day delivery.
It also launched Bolt Protect, a service primarily aimed at essential workers that still need to move around, with cars that are fitted with protective plastic sheeting installed between the passenger and driver seats, limiting the airflow between the driver and riders inside the car.
Markus Villig, CEO and co-founder, Bolt said, “Even though the crisis has temporarily changed how we move, the long-term trends that drive on-demand mobility such as declining personal car ownership and the shift towards greener transportation continue to grow.
We are happy to be backed by investors that support our long term view and don’t buy into the mindless spending that’s become so common in Silicon Valley. I am more confident than ever that our efficiency and localisation are a fundamental advantage in the on-demand industry. These enable us to continue offering affordable transportation to millions of customers and the best earnings for our partners in the post-COVID world.”
Masroor Siddiqui, Managing Partner and CIO, Naya Capital Management said, “We are delighted to have the opportunity to invest in Bolt at this stage in the company’s growth story. Under Markus’ leadership, Bolt has established itself as one of the most competitive and innovative players in global mobility.
“We believe that Bolt is helping drive a fundamental change in how consumers interact with the transport infrastructure of their cities and look forward to the company’s continued execution on its strategic vision.”