We advised Bolt, the fastest-growing mobility platform in the world, on raising EUR 600 million in the biggest funding round in both Bolt’s and the Baltic’s history.
Bolt raised funds from new investors Sequoia, Tekne and Ghisallo, as well as existing backers G Squared, D1 Capital and Naya. The funds will be used to boost Bolt’s new grocery delivery service, Bolt Market, and accelerate the expansion of existing mobility and delivery products.
75 million customers globally
The latest funding round increases Bolt’s valuation to more than EUR 4 billion, more than doubling its last private valuation of USD 2 billion. In addition to their core ride-hailing product, Bolt now offers a car-sharing service, Bolt Drive, and scooter and e-bike sharing. Bolt’s delivery services include Bolt Food, which enables customers to order meals from restaurants, and the most recent addition to Bolt’s ecosystem is a grocery delivery service, Bolt Market.
Bolt Market, the company’s 15-minute grocery delivery product, will be launched in 10 European countries over the next few months, including the Baltics and Central Europe, Sweden, Portugal, Croatia, and Romania.
The expanding range of consumer and transport services qualifies Bolt as Europe’s first ‘super-app’.
Affordable and sustainable mobility
“Bolt’s mission is to make urban travel affordable and sustainable. We are building a future where people are not forced to buy cars that cause traffic and pollution, but use on-demand transport when they need it. After seven years of relentless execution, Bolt’s mobility and delivery products offer a better alternative to almost every use case a car serves. I’m thrilled to bring these products to millions of customers around Europe and Africa, taking the emphasis off cars and giving cities back to the people.” commented Markus Villig, CEO at Bolt.
Our services and project team
We acted as the sole legal advisor to Bolt throughout the fundraising process. Our project team was led by senior associate Mirell Prosa, supported by partner Toomas Prangli and associate Vladislav Leiri.
In 2020, we advised Bolt on raising EUR 150 million in the then largest Baltic funding round to date – more information available here.