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Uber rival Bolt valued at $4.75 billion in new funding round

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A range of products from Estonian ride-hailing start-up Bolt.

LONDON — European ride-hailing firm Bolt said Monday that it has raised 600 million euros ($713 million) in fresh funding, as it looks to push into the rapidly-growing online grocery delivery industry.

The new investment round values Bolt at about $4.75 billion, more than double its last private valuation of $2 billion.

Venture capital firm Sequoia and fund managers Tekne and Ghisallo backed the financing, while existing investors G Squared, D1 Capital and Naya increased their holdings.

“A year ago, we ran into the biggest crisis the company had seen,” Markus Villig, Bolt’s CEO and founder, told CNBC in an interview Monday. “We…



Source cnbc.com

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