16 January 2020:

Bolt has raised a €50 million venture debt facility with the European Investment Bank (EIB). The financing is supported by the European Fund for Strategic Investments.

The company will use the fresh capital to support product development and research, to improve the safety, reliability and sustainability of Bolt’s services without sacrificing the company’s efficiency.

Markus Villig, CEO, Bolt, said, “Mobility is one of the areas where Europe will really benefit from a local champion who shares the values of European consumers and regulators. Therefore, we are thrilled to have the European Investment Bank join the ranks of Bolt’s backers as this enables us to move faster towards serving many more people in Europe.”

The EIB’s Vice President Alexander Stubb said, “Bolt is a good example of European excellence in tech and innovation. As you say, to stand still is to go backwards, and Bolt is never standing still. The Bank is very happy to support the company in improving its services, as well as allowing it to branch out into new service fields. In other words, we’re fully on board!”

Paolo Gentiloni, European Commissioner for the Economy, said, “Estonia is the forefront of digital transformation in Europe. I am proud that Europe, through the Investment Plan, supports Estonian platform Bolt’s research and development strategy to create innovative and safe services that will enhance urban mobility.”

(Image – Bolt)

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