Ride-Hailing Company Bolt Secures USD 719 Mn For Expansion

Bolt, an Estonia-based startup that operates on-demand ride-hailing, shared cars and scooters, as well as a restaurant and grocery delivery service, has announced that it has raised EUR 628 Mn (USD 719.93 Mn) in a new funding round. The round was led by Sequoia Capital and Fidelity and was also backed by Whale Rock, Owl Rock, and some of Bolt’s existing investors.

Bolt will be using the funds to continue expanding to new geographies and to bring more consumers and partners to its super app. It also aims to develop newer business lines, such as its 15-minute grocery delivery option Bolt Market, and to build dark stores in more cities to expand the service beyond the 10 where it’s active today.