Estonian on-demand ride hailing company, Bolt has closed a $67 million seed funding round. The recently closed round is part of an ongoing bigger round, and leaves the company’s valuation at over $1 billion. The company plans to further expand its services to London.
According to TechCrunch, a spokesperson from Bolt revealed that the founding round of which he didn’t disclose the size, will support Bolt’s recent launch in London and its expansions in the remaining parts of 2019.
See also: 54gene Plans to Build Africa’s First Biobank with Acquired $4.5 million Seed Round
However, there are speculations that the funding is a Series C, and the bigger round will be in 9 figures. Bolt as a company has raised up to $185 million in total, this round inclusive. The round was led by Nordic Ninjas, Naya Capital, Creandum, G Squared and Superangel.
TechCrunch also revealed that CEO and founder of Bolt Markus Villig told them about four months ago that they are still undergoing more funding. However a short note in PitchBook and a memo received by TMT investors—One of Bolts shareholders reveals that the round closed in June.
This new funding round might offer Bolt strategic insights on how to penetrate the Japanese market to Western Europe, countries in the Arabic world, more African countries, Eastern Europe, Western Asia and Australia.
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