Bolt secures Ksh.81.8 billion expansion package
Ride-Hailing app, Bolt which operates both in Africa and Europe has secured Ksh.81.81 billion to fast track the mission to have cities move in more affordable and sustainable ways.
The round of funding led by Sequoia and Fidelity management will help to build cities which need fewer parking spaces and have less congestion and lower emissions where people can easily move around in safe and sustainable ways.
“Weve developed products that offer a better and more affordable alternative for almost every purpose a private car serves, we are committed to working with cities to help people make the switch towards shared mobility options like ride-hailing and light vehicles to transform urban areas into sustainable people-friendly spaces,” said Markus Villig, founder and CEO, bolt.
Part of the funds by bolt will be used to accelerate the expansion of bolts new and existing mobility and delivery products across eastern Africa markets which are currently used by more than 100 million customers in 45 countries and over 400 cities across Europe and Africa.
Bolt had earlier bolt launched the bolt market during the pandemic operating in dozens of countries and the new investment will help in accelerating its expansion rapidly in 2022
“For decades, cities have been built for private cars, rather than the people living and working in them , at Bolt we think this approach is outdated , which is why our mission is to create cities for people, not cars,” added Markus Villig.
These investments will further boost ride-hailing services in Kenya emphasizing enhancing the safety futures on the platform for drivers and passengers, the fund will also accelerate the expansion of bolt food services across more urban areas in Kenya.
More than 100 million people across the world use bolt as a faster means of transport, Kenya has also adopted bolt as a safe and faster way of travel