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Estonia’s Bolt has announce the closing of its latest €628M round of funding — its largest to date. The investment round was led by Sequoia and Fidelity Management, and increased Bolt’s valuation to €7.4 billion.
Bolt says this funding round will help it ‘accelerate our mission to help cities transform urban areas into sustainable, people-friendly spaces and further help people move around safely, affordably and conveniently’.
It will also use these funds to expand and further improve its suite of mobility and delivery products.
One example is Bolt Market, its grocery retail and delivery service that was developed and launched during the pandemic.
This new investment will help Bolt Market’s rapid expansion in 2022. Bolt plans to have hundreds of stores operational by the end of the year.
Bolt‘s vehicle sharing services are used by more than 100 million customers in 45 countries, and over 400 cities across Europe and Africa.
Markus Villig, Founder and CEO, Bolt, says: “For decades, cities have been built for private cars, rather than the people living and working in them. At Bolt, we think this approach is outdated, which is why our mission is to create cities for people, not cars.”
He adds: “We’ve developed products that offer better and more affordable alternatives for almost every purpose a private car serves. We’re committed to working with cities to help people make the switch towards shared mobility options like ride-hailing and light vehicles to transform urban areas into sustainable, people-friendly spaces.”