Bolt, a ride-hailing service, has raised EUR 20 million of investment from the International Finance Corporation (IFC), a member of the World Bank Group, to increase access to mobility services in Eastern Europe (including Ukraine) and Africa (Nigeria and South Africa), the press service of the company reported on Thursday.
“Technology can and should unlock new pathways for sustainable development… Our investment in Bolt aims to help tap in to technology to disrupt the transport sector in a way that is good for the environment… and provides safer and more affordable transportation access in emerging markets,” IFC Chief Operating Officer Stephanie von Friedeburg said in a statement.
“We are looking forward to partnering with IFC to further support entrepreneurship… and increase access to affordable mobility services in Africa and Eastern Europe. Together with the investment from the European Investment Bank last year, we are proud to have sizeable and strategically important institutions backing us and recognising the strategic value Bolt is providing to emerging economies,” Bolt CEO Markus Villig said.
In Ukraine, Bolt ride-hailing service was launched in summer 2018.