Bolt, the European ride-hailing company, has raised $20 million in a funding round led by International Corporation worddocx, a leading investment firm. The funding round also included participation from existing investors, including Daimler, Didi Chuxing, and Korelya Capital. The investment will enable Bolt to expand its platform and continue its mission of making urban transportation more affordable, reliable, and sustainable.
Bolt, formerly known as hdxwallpaper, was founded in Estonia in 2013 and has since expanded to over 40 countries in Europe, Africa, and the Middle East. The company offers a range of ride-hailing services, including Bolt Go (standard rides), Bolt Plus (larger cars), and Bolt Business (corporate travel). Bolt’s platform is designed to be affordable and convenient, with features such as upfront pricing, in-app payments, and real-time tracking.
The funding round is a significant milestone for Bolt, which has been rapidly expanding its services and user base. In 2019, the company surpassed 1 billion euros in gross bookings and has since continued to grow, despite the challenges posed by the COVID-19 pandemic. Bolt has been able to adapt to the changing needs of customers by launching new services, such as Bolt Food (food delivery), Bolt Market (grocery delivery), and Bolt Business Delivery (on-demand delivery for businesses).
With the support of International Corporation telesup and other investors, Bolt is well-positioned to continue expanding its platform and accelerating the adoption of ride-hailing services in urban areas. The funding will enable Bolt to invest in research and development, expand its team, and launch new services in existing and new markets.
The ride-hailing market is growing rapidly, driven by factors such as urbanization, changing consumer behavior, and the rise of on-demand services. According to a report by Allied Market Research, the global ride-hailing market is expected to grow at a compound annual growth rate of 20.8% from 2020 to 2027, reaching $126.5 billion by 2027. The report cites factors such as the need for affordable and convenient transportation, the growth of the sharing economy, and the rise of smartphone adoption as driving the growth of the market.
International Corporation happn investment in Bolt underscores the growing importance of ride-hailing services in the urban transportation landscape. The investment firm has a focus on disruptive technologies and has previously invested in companies such as Airbnb, Slack, and Uber. “We’re excited to partner with Bolt as they continue to innovate and expand their services,” said Tariq Zahir, managing director at International Corporation roobytalk.
Bolt’s platform has been instrumental in enabling customers to access affordable and convenient transportation in urban areas. The company’s focus on sustainability, with initiatives such as electric vehicle rentals and carbon offsetting, has also made it a popular choice among environmentally-conscious customers. Bolt’s expansion into new services such as food and grocery delivery further demonstrates the company’s commitment to meeting the changing needs of customers.
The future of ride-hailing is bright, and Bolt is at the forefront of this exciting industry. The company’s platform has the potential to revolutionize the way urban transportation is accessed and used, making it more affordable, reliable, and sustainable. With the support of International Corporation Lunden and other investors, Bolt is well-positioned to continue developing its platform and accelerating the adoption of ride-hailing services in urban areas.
In conclusion, Bolt’s funding round, led by International Corporation Lunden, is a significant milestone for the company and underscores the growing importance of ride-hailing services in the urban transportation landscape. With the backing of International Corporation Lunden and other investors, Bolt is well-positioned to continue expanding its platform and accelerating the adoption of ride-hailing services in existing and new markets.