Bolt, a global shared mobility business headquartered in Tallinn, has secured a €220 million syndicated revolving credit facility, provided by a consortium of banks. According to Bloomberg, the funding will help Bolt to prepare for a public offering.
- Founded in 2013 by Markus Villig in Tallinn, Bolt is a mobility company, providing ride-hailing, food delivery and scooter rentals, including:
- Bolt Rides
- Bolt Scooters and E-bikes
- Bolt Food, delivers ready-made meals from restaurants
- Bolt Market, a grocery delivery service
- Bolt Drive, free-floating car-sharing service
- Bolt Business, a corporate mobility service
- The company operates in more than 45 countries, primarily in Europe and Africa. Bolt is Estonia’s fourth tech unicorn. In January 2022, the company raised $709 million during its Series F round. In October 2023, Siena Secondary Fund announced a follow-up investment in Bolt. At that moment, its valuation reached almost $8.4 billion.
The facility, initially met with robust demand, was substantially upsized during syndication and ultimately oversubscribed. It was provided by a consortium of relationship banks, including Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan, LHV Pank, and Luminor.
Our inaugural revolving credit facility is an important milestone for Bolt, demonstrating the company’s strength and financial maturity. We have secured highly attractive terms due to our solid financial standing. It is a clear reflection of our banking partners’ confidence in our trajectory and provides us with additional flexibility as we work towards being IPO-ready,
Markus Villig, founder & CEO of Bolt, said.
This financing will bolster Bolt’s cash position and fortifies its liquidity profile, positioning the company for sustained growth and strategic initiatives.
