Nairobi, Kenya, Jan 12 – Bolt has announced €628 million(Shs 80.8 billion) investment funding which will be used to among others, accelerate the expansion of Bolt’s new and existing mobility and delivery products across Eastern African markets.
The funding takes Bolt’s valuation to €7.4 billion (Shs 952 billion).
These investments, Bolt said, will boost ride-hailing services in Kenya, and enhance the safety features on the platform for drivers and passengers.
Micah Kenneth, Regional Manager, Bolt East Africa, in a statement, said the funds will speed up the expansion of our existing mobility and delivery products across its markets.
“We continue to scale up our operations for the benefit of our customers and the communities in which we operate. We believe that the future of urban transport is a network of on-demand services, including ride-hailing, food, and grocery delivery. Bolt focuses on creating quality, affordable and sustainable services that will enhance urban mobility and provide viable economic opportunities across East Africa,” he said
The investment round was led by Sequoia Capital and Fidelity Management and Research Company LLC with participation from Whale Rock, Owl Rock (a division of Blue Owl), D1, G Squared, Tekne, Ghisallo, and others.
