Bolt, a leading on-demand transportation platform, has raised an investment capital amounting to Kshs. 11 billion from Naya Capital Management to boost its growth and development strategy.
The funds will go into upgrading product segments to include micro mobility services and food delivery in Europe and Africa. These will include investments into scooters, bikes and delivery services across its markets as the company continues to offer affordable and reliable on-demand transportation to millions of customers.
“We continue to improve our operations to meet the demands of our customers. Even though the Covid-19 crisis has temporarily changed how we move, the long-term trends that drive on-demand mobility such as declining personal car ownership or the shift towards greener transportation continue to grow,” said Markus Villig, CEO and co-founder, Bolt. The company’s growth strategy is focused on creating innovative services that will enhance urban mobility, safety and reliability in the on-demand transportation industry while providing viable economic opportunities across the world.
“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,” said Masroor Siddiqui, Managing Partner and CIO, Naya Capital Management.
Bolt currently operates its ride-hailing services in more than a hundred and fifty cities across Europe and Africa. In the recent past, Bolt has accelerated the expansion of its Bolt Food delivery service to cover twelve countries. It has also launched business delivery, a service to aid vendors in need of a distribution partner which offers same-day delivery.
Another addition has been Bolt Protect; a service primarily targeting essential workers. The investment from Naya Capital Management now brings the total investment amount that has been raised by Bolt to over €300m since inception.
Bolt is the leading European transportation platform that’s focused on making urban travel easier, quicker and more reliable. The company’s services range from ride-hailing to micro mobility and food delivery.
Founded by Markus Villig, Bolt launched in 2013. It’s one of the fastest-growing transportation platforms in Europe and Africa with investors including Daimler, DidiChuxing, Korelya Capital and TransferWise co-founder TaavetHinrikus.
About Bolt Naya Capital Management
Naya Capital Management is the global investment manager founded in 2012 by Masroor Siddiqui, a former partner at The Children’s Investment Fund.