Bolt expands to Asian and Latin American markets with franchise roll-out
Estonian transport company Bolt announced on Monday that it will launch a new franchising porgramme, aiming to further accelerate the company's growth by expanding outside its core markets in Europe and Africa, to regions like Latin America and Asia.
The franchise programme, called Bolt Franchise, will see the company team up with approved franchisees for running mobility services in their markets on a revenue share basis. Companies can choose to partner with Bolt to launch one or several services, including ride-hailing, micromobility with scooters and electric bikes, and food delivery.
Companies cooperating with Bolt can launch one or several services, including ride-hailing, micromobility with scooters and electric bikes, and food delivery.
According to Bolt, the company has more than 50 million users in over 40 countries in Europe and Africa. "While Bolt is focusing on Europe and Africa, which are our main markets, then we see with this program that we could find new partners in India, Brazil, Turkey and other countries where we might not go as a priority, but where our technology could be used by local strong companies, creating new business opportunities," explained Martin Villig, co-founder of Bolt.
"We are a rather large company now. When we come out with a business direction, then we presume that it should be remarkable. Over the years, its turnover should be in the dozens or hundreds millions. Otherwise, there is no reason for us to do anything new," he added.
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Editor: Kristjan Kallaste