Bolt, the market leader in mobility across Europe, recently revealed that it has reached 150 million subscribers in more than 45 countries and 500 cities.
More specifically, Bolt’s 150 million users spread across its many mobility services, which include ride-hailing, micro-mobility (scooter and e-bike rental), food delivery, grocery delivery, Bolt Drive, a free-floating car-sharing service, and Bolt Business, a corporate mobility service. Bolt has also revealed that over 3.5 million partners (drivers and couriers) are utilizing the app to make a livelihood; this includes over 1 million in Africa.
Also, Mikko Salovaara’s appointment as Bolt’s new Chief Financial Officer (CFO) and the publication of these new numbers come on the heels of the company’s 2022 Annual Report, which revealed substantial year-over-year profitability increases for the enterprise. Later this month, Mikko will begin his new position with Bolt.
Bolt is on course to become the first European mobility platform to be entirely profitable over the next 12 months despite substantial challenges, including a jump in inflation, increasing interest rates, and an unclear macroeconomic outlook across several regions.
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The company now has 150 million users in 45 different countries
Bolt’s CEO and Founder Markus Villig: “Our primary principles have stayed the same since we started out 10 years ago — by becoming the most operationally efficient mobility platform in the world, we can give exceptional value to our customers and partners. We owe our rapid expansion to our commitment to providing superior customer service at competitive costs, and we’re thrilled to have gained the trust of 150 million users in 45 different countries.
We expect to be profitable in the following year owing to this tremendous magnitude. Having Mikko on board as we continue to prioritize long-term, sustainable development and start preparing for our IPO is an important step for the company.
“In an industry where it is notoriously hard to operate profitably, Bolt stands head and shoulders above its competitors,” said Mikko Salovaara, Bolt’s incoming Chief Financial Officer. The culture of maximising operational efficiency, which was instilled by Markus ten years ago continues to guide the business today and has left Bolt well-positioned to reach and maintain long-term profitability. I look forward to being part of this next stage in Bolt’s journey as the business prepares for IPO.”
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A quick look into Bolt’s background
Bolt, which was started by then-19-year-old Markus Villig in Tallinn, Estonia, has announced that it has reached 150 million customers and has hired Mikko Salovaara as its chief financial officer.
When Markus first launched Bolt in 2013 as a ride-hailing app, he recruited drivers by walking the streets of Tallinn to sign up for the service. Since then, the company has expanded rapidly. Launching food delivery in 2019, followed by scooter rentals in 2020, and grocery delivery and car-sharing in 2021.