Bolt moves closer to IPO after securing €220m revolving credit facility
Estonian mobility platform Bolt is preparing for an initial public offering (IPO) and announced on Friday it has secured a €220 million credit line, taking it one step closer to its goal.
The company said in a statement that the €220m "revolving credit facility" allows a company to withdraw funds, which can be repaid and withdrawn as needed.
Markus Villig, founder & CEO, said in a statement: "Our inaugural revolving credit facility is an important milestone for Bolt, demonstrating the company's strength and financial maturity. We have secured highly attractive terms due to our solid financial standing. It is a clear reflection of our banking partners' confidence in our trajectory and provides us with additional flexibility as we work towards being IPO-ready."
This RCF was obtained from 8 lenders: Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan, LHV Pank and Luminor.
As of the end of 2022, Bolt operated in over 40 countries and over 500 cities, mainly in Europe, the Middle East and Africa.
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Editor: Helen Wright
