Sunday, July 3, 2022
Sunday, July 3, 2022
Home Business Bolt Raises €150 Million to Bolster the Quality and Safety of its services

Bolt Raises €150 Million to Bolster the Quality and Safety of its services

by Milcah Lukhanyu
0 comment

Bolt has raised €150 million (Ksh. 19.8 billion) funding to improve safety, security and quality of it’s services as it continues to expand its ride-hailing, micro mobility and food delivery services in Europe and Africa.

The investments in safety will include features like facial recognition and artificial intelligence tools. The investment was from D1 Capital Partners with the support of Darsana Capital Partners.

“Safety is one of the areas we will continue to grow and innovate for the benefit of our customers. We’re planning to launch a more innovative solution, like driver face verification and automatic trip monitoring, using machine learning to prevent potential incidents and ensure the highest quality service for our customers. ”, said Markus Villig, CEO and co-founder, Bolt.

Late last year, Bolt raised $180 million to make ride-hailing, micromobility and food delivery accessible to all bring. The round was also led by D1 Capital Partners, and also included Darsana Capital Partners.

It also raised €100m ( Ksh 11 billion) from London-based Naya Capital Management to boost its growth and development strategy.

The firm had earlier unveiled its 4th generation scooter for its global market and pioneered safety initiatives in the industry, providing a number of ride-hailing safety features in both its rider and driver apps including an SOS button, designed to let users contact emergency services quickly if needed. 

The company has also ensured that its safety features are easily accessible from the app’s home screen on the platform to improve safety and well-being of riders and drivers during a Bolt trip. Additional safety features such as “Share your ETA”, where a rider can share his/her live trip details with emergency contact numbers also ensure safety throughout the lifecycle of the riders’ journey.

“Our customers deserve safe, quality and affordable rides and we work hard to meet the highest standards of our service. We are excited to make movement for our customers safer, affordable and of high quality across the country. This also comes hand in hand with our commitment to offering the best comparative earnings for individuals who choose to drive and earn on the Bolt platform. We are focused on creating innovative and safe services that will enhance urban mobility and provide viable economic opportunities across the world”, said Ola Akinnusi, Country Manager.

The firm’s app now counts more than 50 million users in over 40 countries across Europe and Africa.

In Kenya, Bolt expanded its services to Nyeri, Meru, Embu, Nanyuki, Karatina, Kilifi and Malindi as the company cements its footprints across the country.  The move brings Bolt’s growing network to sixteen urban centers as the company remains the leading ride-hailing service provider in terms of geographical reach in the country. These include Nairobi, Mombasa, Thika, Kisumu, Kakamega, Nakuru, Naivasha, Eldoret, Kitale, Nyeri, Meru, Embu, Nanyuki, Karatina, Kilifi and Malindi.

You may also like

%d bloggers like this: