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Bolt Raises $182m in Fresh Funding

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Bolt has announced that it has raised €150 million ($182 million) funding in an equity round led by  D1 Capital Partners with participation also from Darsana Capital Partners.

The global on-demand firm which covers 200 cities in 40 countries with its delivery and transportation services, will be used for geographical expansion and to help it become the biggest provider of electric scooters in Europe.

According to Marcus Villig, the founder and CEO of Bolt, he said of the new investment: “This round was the first time we raised with most of the previous round still in the bank, despite the pressures of Covid.”

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“This shows the frugality of the company. Due to lockdowns, we were not as aggressive as we would have liked to be, so financially we are now in a very good position for 2021.”

“We are excited to partner with Bolt as they continue to build a market-leading mobility platform across Europe and Africa,” said Dan Sundheim, founder of D1 Capital, in a statement.

“The team has executed incredibly well during a challenging year and continues to provide millions of users with safety, flexibility, and great value. We are optimistic about the growth opportunity ahead for Bolt after the COVID-19 pandemic and look forward to supporting the team as they invest in innovation over the coming years.”

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