Bolt was founded in 2013 by Markus Villig in Tallinn, Estonia. Villig was just 19 years old when he started the company, originally called Taxify. It rebranded to Bolt in 2019 to reflect its expansion beyond taxi services.
Today, Bolt operates in over 45 countries and 600+ cities, primarily across Europe and Africa. The platform serves more than 200 million customers and over 3 million drivers and couriers. Unlike Uber, which dominates North America, Bolt has carved out strong positions in markets like Estonia, Poland, Romania, South Africa, Nigeria, and Kenya.
Bolt’s app covers ride-hailing, e-scooter and e-bike rentals, food delivery (Bolt Food), and grocery delivery (Bolt Market). The company has also launched Bolt Business for corporate travel management and Bolt Drive for short-term car rentals in select markets.
The company’s competitive advantage is its lower commission rates. Bolt typically takes a smaller cut from drivers than Uber does, which helps attract drivers and keep prices lower for riders. This lean approach extends to the company itself — Bolt has been notably more capital-efficient than its US-based competitors.
Bolt has raised over $1.5 billion in funding, with its last valuation around $8.4 billion in 2022. The company was on track toward profitability and has discussed a potential IPO for the future.
Headquartered in Tallinn with significant offices in London, Berlin, and across Africa, Bolt employs around 5,000 people. Villig remains CEO and has spoken about building a European alternative to American tech giants.
