Ride-hailing company, Bolt has secured KSh80.8 investment funding, raising the company’s valuation to KSh952 billion.
Investors who took part in the funding round include Sequoia Capital, Fidelity Management and Research Company LLC, Whale Rock, Owl Rock (a division of Blue Owl), D1, G Squared, and Tekne, Ghisallo.
The company says it will use the funding to accelerate the expansion of its new and existing mobility and delivery products across Eastern African markets, and enhance the safety features on the platform for drivers and passengers.
In addition to its core ride-hailing product, the company offers a car-sharing service, Bolt Drive, and scooter and e-bike sharing, Bolt Market, and Bolt Food, which enables customers to order meals from restaurants.
The company is piloting Bolt Market in its home market Estonia and preparing to launch in 10 European countries soon. Upcoming markets include the Baltics and Central Europe and Sweden, Portugal, Croatia, Romania, and later in African markets.