Bolt raises $709m to push ahead with ‘super app’ aspirations

Bolt has secured $709 million as it bids to push ahead with its ‘super app’ mission which will see it aim to compete with rival Uber.

The new funds will help it push ahead with its other divisions including restaurant and grocery delivery and will continue to expand across new markets.

In order to take a chunk out of the hotly contested food delivery space it will need to expand its 15 minute grocery delivery service, Bolt Market, by constructing more dark stores in order to compete with some of the sector’s leaders including Gorillas which have a established a respectable foothold in the UK space.

“All of our business units are growing,” Bolt founder and chief executive Markus Villig said in an interview this week.

Villig pointed out that even its principal ride hailing arm is “seeing double digit growth,” at the same time as its smaller businesses.

READ MORE: Deliveroo, Uber Eats and Bolt all offer discounts and incentives to vaccinated customers

“The new trend of last year is that private cars are a bad thing and increasingly people want to use other forms of mobility,” he said.

He also revealed that his company is working on partnerships with more city governments to expand its services as part of a wider transportation strategy.

The ride hailing giant now has over 100 million customers in 45 countries and over 400 cities.

It had 75 million customers at the time of its previous funding round in August last year.

Bolt now has more than 100 million customers in 45 countries and 400+ cities using its services. As a measure of its growth, in August, when the company announced that previous round, it had 75 million customers.

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