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Uber Rival Bolt Raises $711M With a Valuation Of Over $8B


Bolt, an Estonian startup, announced on Tuesday that it has secured 628 million euros ($711.40 million) from a group of investors led by Sequoia Capital and Fidelity Management and Research Co, valuing the company at 7.4 billion euros ($8.38 billion).

Bolt, a competitor to Uber’s (UBER.N) ride-sharing and food-delivery firm, secured money in August at a valuation of more than 4 billion euros.

Electric scooter rentals, car-sharing, and a 15-minute grocery delivery service are among the company’s other services, which it provides to over 100 million customers in 45 countries and 400 cities across Europe and Africa.

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