Bolt’s Annual Income Hits 2 Billion Euros

Bolt Annual Income: Estonian mobility and delivery platform, Bolt has announced it has surpassed €2 billion ($2.11 billion) in annual revenue, further strengthening its position as a top European competitor to U.S.-based Uber.

According to Reuters, the company said in a statement its app has reached over 50 countries and is the No. 1 operator in more than 20 of them having widened its offering to ride-hailing, scooter and e-bike rental, food and grocery delivery and car sharing.

Bolt Annual Income Strengthens Its Position

Headquartered in Estonia, one of Europe’s prominent tech hubs with over 1,450 startups, Bolt is proving that global tech innovation can thrive outside Silicon Valley.

“I don’t agree that you can’t master world-class marketing or engineering from Europe,” said CEO Markus Villig, in the statement, emphasizing the company’s strong European roots and technological capabilities.

According to Villig, ride-hailing companies will be the best way for self-driving cars to come to market, but he added that companies are “years out before having a service that is commercially viable, cheaper than a human driver and one that meets regulatory requirements”.

Also Read: South African Uber, Bolt drivers to storm legislature to Protest Abuse from e-hailing Companies

Looking Ahead: Bolt’s Potential Expansion

Bolt plans to integrate self-driving vehicles into its ride-hailing services.

The platform currently offers ride-hailing, scooter and e-bike rentals, food and grocery delivery, and car-sharing, expanding its reach and reinforcing its market presence worldwide.

Founded in 2013, Bolt’s rapid growth saw its valuation surpass $8 billion in early 2022, following a €628 million investment round.

The company has indicated it could be prepared for an initial public offering (IPO) as soon as 2025, marking a significant milestone in its journey toward becoming a leading player in global mobility and delivery services.