A transport app that offers a core ride-hailing product and car, bike and e-scooter-sharing service has raised more than £500 million and will expand to 10 UK cities by the end of the year.
Bolt is currently available in the M25 area around London, Windsor and Maidenhead, airports including Stansted, Luton, Southend-on-Sea and Gatwick, Milton Keynes, Peterborough, Leicester, Birmingham and Newcastle.
It has more than 500,000 drivers registered in the UK and more than two million passengers signed up, reports Business Cloud.
The funds were raised from new investors including Sequoia, Tekne and Ghisallo, as well as Bolt’s existing investors G Squared, D1 Capital and Naya.
They will be used to boost Bolt’s new 15-minute grocery delivery service, Bolt Market, and to accelerate the expansion of its existing mobility and delivery product.
“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,” said CEO Markus Villig.
“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.”