Bolt: Uber’s New Rival Gets $713 Million in Investment

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Bolt: A startup of people and food transport that intends to rival Uber and other companies in the sector this Monday (2) completed a new successful round of financing. The company is Bolt, which originated in Estonia and was previously known as Taxify. After changing its name and moving from a taxi service to a more varied transport company, it now wants to expand services and annoy the giants in the sector.

According to CNBC, venture capital companies such as Sequoia and Tekne were some of the main players involved in the financing. The US$ 713 million will be used to expand Bolt’s performance in food delivery and restaurant orders, in addition to having helped to double the startup’s market value compared to the last assessment: currently, the company is quoted in US$ 4.75 billion.

bold plans

According to Bolt, the moment is not only for growth, but also for resumption: in 2020, with the measures of social isolation and closure of trade due to the covid-19 pandemic, the brand was forced to abandon several cities and reduce the participation in sectors such as the rental of electric scooters, for example.

The startup’s plan now is to expand to more countries in Europe and stipulate the delivery of purchases for 15 minutes in any location.

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