Bolt’s ride-hailing app in Estonia has announced a new round of funding of 220 million euros in the form of revolving credit, allowing the company to withdraw and repay funds throughout. This move is aimed at strengthening the financial position to support growth.
The credit line comes from several banks with existing business relationships and is assessed based on the company’s liquidity and financial status. Bolt’s CEO and founder, Markus Villig, emphasized that this revolving credit is a significant step for Bolt as it reinforces the company’s financial stability, preparing it for potential IPO in the future.
Currently, Bolt operates in over 45 countries, predominantly in Europe and Africa, with Thailand being one of the countries served.
Disclosure: LINE MAN Wongnai is the parent company of Blognone.
TLDR: Bolt secures 220 million euros in revolving credit to bolster financial strength and prepare for future expansion and public listing.
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