Bolt raises €100 million from Naya Capital
Taxi hailing app firm Bolt has announced it is getting a €100-million investment to continue expanding its service in Europe and Africa, including its transport, food home delivery, and electric scooter rental services. The investor is United Kingdom investors Naya Capital Management.
The announcement doesn´t specify what proportion of Bolt Naya Capital Management will have after investing, or on what terms the was deal made.
Together with a previous round of financing, Bolt, one of just two Estonian unicorn firms (the other is Transferwise) has garnered more than €300 million of capital.
Early on in the coronavirus pandemic, the company had asked for a relief payment of around €50 million from the state, citing revenue drops of over 80 percent as a result of the crisis.
Bolt provides transportation services in more than 150 cities in Europe and Africa. During recent months, the company has accelerated placing Bolt Food on the market and is now offering the service in 12 countries as well, and has activated a business delivery service too.
"The crisis has temporarily changed our movement habits, but the long-term trends have stayed the same. The world is heading towards a more environmentally-friendly transport, and the popularity of owning a personal car is decreasing," said Bolt CEO Markus Villig.
"Our investors share the same views and they understand that sending money doesn´t have a perspective. I am more and more convinced that the efficiency and the ability to adjust give Bolt an advantage in the field," Villig added.
According to Bolt, Naya Capital Management is a global investment manager based in London. Founded in 2012 by Masroor Siddiqui, Nayal has 17 employees.
Masroor Siddiqui, Managing Partner, and CIO, of the Naya Capital Management said in a press release that: "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."
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Editor: Roberta Vaino