Global Markets

Bolt now has more than 150 million customers worldwide

Bolt, the European mobility leader, has revealed that it has reached 150 million customers across 45 countries and 500 cities.

Bolt has 150 million customers who use its mobility solutions, which include ride-hailing, micromobility (scooter and e-bike rental), food delivery, grocery delivery, Bolt Drive, a free-floating car-sharing service, and Bolt Business, a corporate mobility service. Bolt also stated that over 3.5 million partners (drivers and couriers) are now earning a living through the app, including over 1 million in Africa alone.

The fresh data were issued on the same day that Mikko Salovaara was named Bolt’s new Chief Financial Officer (CFO), and just days after the company’s 2022 Annual Report revealed considerable year-on-year earnings improvements.

Despite substantial obstacles such as rising inflation, interest rates, and an unclear macroeconomic outlook in many areas, Bolt boosted its revenue dramatically and is on track to become the first European mobility platform to be entirely profitable within the next year.

“Our core principles have remained the same since we were founded ten years ago – by being the most operationally efficient mobility platform in the world, we can provide incredible value to our customers and partners,” stated Markus Villig, Founder and CEO of Bolt. Our industry-leading growth is driven by providing excellent service at competitive pricing, and we are happy to serve 150 million people in 45 countries. This unprecedented scale will enable us to achieve profitability within the next 12 months. Bringing Mikko on board at this critical juncture in the company’s history will be beneficial as we continue to focus on long-term, sustainable growth and begin our IPO preparations.

“In an industry where it is notoriously difficult to operate profitably, Bolt stands head and shoulders above its competitors,” said Mikko Salovaara, Bolt’s new Chief Financial Officer. Markus developed a culture of optimising operational efficiency in the business ten years ago, which has left Bolt well-positioned to achieve and sustain long-term profitability. I’m excited to be a part of the next step of Bolt’s journey as the company prepares for an IPO.”

Mikko will begin his new position with Bolt later this month.

The new 150 million client milestone, as well as the hiring of Mikko Salovaara as CFO, have been revealed as Bolt celebrates ten years since the company was started in Tallinn, Estonia, by a then-19-year-old Markus Villig.

Bolt began as a ride-hailing service in 2013, when Markus personally recruited drivers on the streets of Tallinn, and has since grown dramatically. Food delivery will be available in 2019, followed by scooter rentals in 2020 and grocery delivery and car-sharing in 2021.

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