{"id":619298,"date":"2024-05-03T17:38:42","date_gmt":"2024-05-03T14:38:42","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uber-rival-bolt-secures-e220m-in-prep-for-ipo-2\/"},"modified":"2024-05-03T17:38:42","modified_gmt":"2024-05-03T14:38:42","slug":"uber-rival-bolt-secures-e220m-in-prep-for-ipo-2","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uber-rival-bolt-secures-e220m-in-prep-for-ipo-2\/","title":{"rendered":"#Uber rival Bolt secures \u20ac220M in prep for IPO"},"content":{"rendered":"
\n Estonian mobility startup Bolt has secured a \u20ac220mn credit facility as it plans to go public next year. <\/span>\u00a0<\/span><\/p>\n

This type of financing is a more flexible loan option, which allows a business to withdraw and repay funds as needed, on an ongoing basis. Kind of like a credit card for companies.\u00a0<\/span><\/p>\n

The credit facility provides Bolt \u201cwith additional flexibility as we work towards being IPO-ready,\u201d CEO and founder Markus Villig <\/span>said<\/span><\/a> in a statement.<\/span><\/p>\n

Lenders include Barclays, Deutsche Bank, Goldman Sachs, and JPMorgan. The money supplements Bolt\u2019s \u201cstrong cash position\u201d and \u201cstrengthens its liquidity profile,\u201d the company said.<\/span><\/p>\n

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Alongside its ride-hailing service, Bolt offers food delivery, car rental, as well as\u00a0 dockless e-scooter and ebike sharing. Last year, the startup started <\/span>delivering groceries using autonomous robots<\/span> in its hometown of Tallinn.<\/span><\/p>\n

Villig launched Bolt in 2013 with just \u20ac3,000 in his pocket and only a few dozen drivers using the ride-hailing app<\/a>. The company is now worth upwards of \u20ac7bn. It claims to have signed up over 3 million drivers and counts 150 million customers across 45 countries.\u00a0<\/span><\/p>\n

Part of Bolt\u2019s success is that its fares are general<\/a>ly cheaper than those of rival Uber. Nevertheless, the US giant accounts for 25% of all ride-hailing and taxi rides worldwide. Bolt\u2019s share is <\/span>estimated<\/span><\/a> at about 5%.\u00a0\u00a0<\/span><\/p>\n

An IPO could give Bolt the cash injection it needs to snatch back some customers from the competition. However, if <\/span>Uber\u2019s dreadful IPO<\/span><\/a> in 2019 is anything to go by, Bolt may have a hard time convincing investors that ride-hailing and food delivery are still the hot commodities they used to be. <\/span>\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Estonian mobility startup Bolt has secured a \u20ac220mn credit facility as it plans to go public next year. \u00a0 This type of financing is a more flexible loan option, which allows a business to withdraw and repay funds as needed, on an ongoing basis. Kind of like a credit card for companies.\u00a0 The credit facility…<\/p>\n","protected":false},"author":1,"featured_media":619299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/tnw-blurple?filter_last=1&fit=1280%2C640&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F05%2Fbolt-ipo-funding.jpg&signature=7b0ffa4d2a6aaecca38ed4db51555a32","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-619298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/619298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=619298"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/619298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/619299"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=619298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=619298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=619298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}