INSUBCONTINENT EXCLUSIVE:
to expand newer areas of its business, such as food delivery and personal transport like e-scooters.With this latest money, Bolt has raised
million), it was valued at over $1 billion, which Bolt has confirmed to me remains the valuation here.Bolt further said that its service now
has more than 30 million users in 150 cities and 35 countries and is profitable in two-thirds of its markets.The timing of the last equity
of a quasi-equity facility.Also known as venture debt, the financing is structured as a loan, where repayment terms are based on a
percentage of future revenue streams, and ownership is not diluted
The funding is backed in turn by the European Fund for Strategic Investments, as part of a bigger strategy to boost investment in promising
companies, and specifically riskier startups, in the tech industry
One is the fact that the funding comes without ownership dilution
Two is the endorsement and support of the EU itself, in a market category where tech disruptors have been known to run afoul of regulators
Bolt (whose brother Markus is the CEO), in a statement
lucrative London taxi market through a backdoor to bypass the waiting time to get a license
of startup funding, backing from government groups is an interesting and strategic route for tech companies that are making waves in large
industries that sit adjacent to technology
Before it was acquired by PayPal, IZettle also picked up a round of funding from the EIB specifically to invest in its AI R-D
Navya, the self-driving bus and shuttle startup, has also raised money from the EIB in the past, as has MariaDB.One of the big issues with
on-demand transportation companies has been their safety record, a huge area of focus given the potential scale and ubiquity of a
transportation or mobility service
part of the Soviet Union (it formally left in 1990)
