Bolt announced the closing of their latest €628M round of funding — the largest to date.

The investment round was led by Sequoia and Fidelity Management and increased Bolt’s valuation to €7.4B.

Rebuilding cities for people, not cars

For the past 8 years, Bolt strived to prove the point that owning a personal car is no longer a necessity and built an ecosystem around it.

This round of funding — the biggest in Bolt’s history — will help Bolt to build a future in which cities need fewer parking spaces, have less congestion and lower emissions, and where people can easily move around in a safe and sustainable way.

“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 At Bolt, we think this approach is outdated, which is why our mission is to create cities for people, not cars.

“We’ve developed products that offer better and more affordable alternatives for almost every purpose a private car serves. We’re 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.”

Markus Villig, Founder and CEO, Bolt

Expanding other product lines

Bol also uses these funds to expand and further improve their full suite of mobility and delivery products, which are currently used by more than 100 million customers in 45 countries and over 400 cities across Europe and Africa.

One example is Bolt Market, one of our newest products, developed and launched during the pandemic and already operating dozens of stores in ten countries across Europe.

This new investment will help Bolt accelerate its expansion rapidly in 2022 as we plan to have hundreds of stores operational by the end of the year.

Featured image credit: Bolt