Bolt raises almost R2bn in new investment round

Ride-hailing company Bolt has closed an investment round of €100m to scale its ride-sharing, micro-mobility and food-delivery business in Europe and Africa.global investment managerOperating in about 150 cities across Europe and Africa, the Estonia-based company says it is the leading ride-hailing app in Africa. More than half its business worldwide comes from seven African markets: Ghana, Kenya, Nigeria, Tanzania, Tunisia, Uganda and SA.

In SA, Bolt operates in 34 towns and cities, with more than 10,000 drivers using the platform to operate their businesses. Bolt said it has expanded its services to keep drivers on the road locally given the negative effect on ride hailing due to the Covid-19 lockdown.

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