Estonian startup Bolt has raised significant investment to prepare for its initial public offering (IPO), strengthening its presence in the transportation and food delivery markets.
Bolt IPO
Large-scale investment
Bolt received €220 million (about $235 million) in debt financing, which will give it additional flexibility in the process of preparing for the long-awaited IPO. This amount comes after the startup was valued at €7.4 billion last year, when it raised €628 million from investors such as Sequoia Capital and Fidelity Management.
Global expansion
Having a presence in more than 45 countries, mainly in Europe and Africa, Bolt offers a variety of services including car hailing, food delivery and scooter rentals. The startup competes directly with giants like Uber in the transportation technology market.
Financial stability
Last year, Bolt raised €126 million to expand its fleet of rental cars. The company's management plans to achieve profitability over the next year, bolstering its ambitions by hiring a new CFO from British fintech startup Revolut.
Glossary
- Bolt is an Estonian startup providing services in the field of transport technology and delivery food
- IPO (Initial Public Offering) - the first public placement of company shares on the stock market.
- Sequoia Capital is one of the leading venture capital companies in the world.
- Fidelity Management is one of the largest asset management companies in the United States.
- Revolut is a British fintech startup offering digital banking services.
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Discussion of the topic – Bolt raises €220 million to prepare for IPO: what does this mean for the future of the company?
Estonian taxi and delivery company Bolt has raised €220 million in debt to prepare for its initial public offering (IPO). This move will help the company expand its operations and strengthen its position in the market before going public.
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Аліна
It is interesting that Bolt has raised such a significant amount of funding to prepare for the IPO. On the one hand, it indicates investors' confidence in the company and its potential for growth. 💰
Віктор
Yes, definitely. The company has shown rapid expansion and high growth rates. I personally like their scooter rental service, very convenient for cities. 🛴
Ольга
I've heard that Bolt is also actively working on expanding its food delivery service. It can become a serious competitor for other players in the market. 🍔
Андрій
An interesting fact is that Bolt hired a CFO from Revolut. It seems that they are preparing for serious financial changes and strategic moves. 📈
Григорій
Hmm, these startups come and go. I doubt Bolt will be able to break even that quickly. There is too much competition in this industry. 😒
Ганна
And don't you remember how Bolt quickly adapted and launched a food delivery service at the beginning of the pandemic? This indicates their flexibility and ability to respond to new challenges. 🚚
Антон
Yes, and I also heard that Bolt is actively focusing on expanding its services in Africa. This could be an interesting market for them. 🌍
Марія
I love that Bolt offers a variety of services, from car hailing to scooter rentals and food delivery. This makes them a very convenient option for city dwellers. 🏙️