Estonian ride-hailing firm Bolt, previously Taxify, has raised a 50 million dollars debt facility from the European Investment Bank (EIB).
The firm will channel the funds towards improving the company’s research and development strategies.
Bolt co-founder, Martin Villig, said, “We will invest in improving and expanding our ride-hailing technology as well as personalised mobility services like food delivery. We are thrilled to have the European Investment Bank join the ranks of our backers as this enables us to move faster towards serving many more people in Europe and across the world.”
Bolt has continued to add features to its app that ensure user safety, as well as ensuring the reliability and sustainability of its business.
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It has introduced features such as the SOS button and Share your ETA features.
The latter allows riders to share their trip details to a third party, as well as link drivers on Bolt trips with medical and/or security emergency response team(s) at the tap of a button
Bolt is soon to launch a food delivery service, and a mass transit service.
Bolt currently operates in 35 countries within Europe, Africa, North Africa, West Asia, North America and Australia.
