We are advising Bolt, the leading European transportation platform, on a EUR 100 million investment agreement with London-based investment firm Naya Capital Management. This deal boosts the value of Bolt to 1.7 billion euros.
Today, one of Europe’s leading unicorn companies, Bolt operates one of the fastest-growing transportation platforms in Europe and Africa. With a presence in over 35 countries and in more than 150 cities, Bolt currently has the second-largest footprint of any ride-hailing company on the planet.
Bolt plans to use the new funding to support growth across its range of services, rather than focusing on one specific segment. “Even though the crisis has temporarily changed how we move, the long-term trends that drive on-demand mobility such as declining personal car ownership or the shift towards greener transportation continue to grow,” comments founder and CEO of Bolt, Martin Villig.
“We are happy to be backed by investors that support our long term view and don’t buy into the mindless spending that’s become so common in Silicon Valley. I am more confident than ever that our efficiency and localisation are a fundamental advantage in the on-demand industry. These enable us to continue offering affordable transportation to millions of customers and the best earnings for our partners in the post-COVID world.”
Naya Capital Managing Partner Masroor Siddiqu added that the firm’s investment in Bolt will support its long-term view of expanding its business.
“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,” said Siddiqu.