We advised Bolt, the fastest-growing mobility platform in the world, on raising USD 709 million in the biggest funding round in both Bolt’s and the Baltic’s history.
Sequoia Capital, Fidelity Management and Research Company LLC co-led the round with Whale Rock, Owl Rock (a division of Blue Owl), D1, G Squared, Tekne, and Ghisallo among others.
Supporting record growth
Bolt will be using the funds to continue expanding to new geographies and to bring more consumers and partners to its “super app”; as well as for newer business lines, such as its 15-minute grocery delivery option Bolt Market, including building out ‘dark stores’ in more cities to expand the service beyond the 10 where it’s active today.
The funding news caps off an eventful few months for Bolt, which had raised EUR 600 million at a valuation of over EUR 4 billion only four months earlier in a Series E also led by Sequoia. Bolt now has more than 100 million customers in 45 countries and 400+ cities using its services. As a measure of its growth, in August, when the company announced the previous round, it had 75 million customers.
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.
We have acted as the sole legal advisor to Bolt also throughout previous record-breaking fundraising rounds:
- Bolt raises EUR 600 million in the largest Baltic funding round to date (2021);
- Bolt raises EUR 150 million in the largest Baltic funding round to date (2020).
More information – Techcrunch.