Bolt announces ongoing post-pandemic growth to mark ninth anniversary

Bolt has announced that it has quadrupled its business since the start of the COVID-19 pandemic, recording its most successful month on record in July 2022.

Bolt, which launched two new products since the start of the pandemic, now has operations in 45 countries and over 500 cities across Europe and Africa – an increase of over 200 per cent in the period prior to the pandemic.

Globally, the mobility company has tripled its number of customers to over 100 million since the beginning of 2020, added more than two million new drivers to the platform, and more than doubled the size of its workforce to over 3000 employees. Bolt has also opened several new offices over the past year, including engineering hubs in Berlin and Nairobi, and continues to advertise over 350 open roles with a view to hiring 700 more employees by the end of the year.

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Markus Villig, CEO and Founder, said: “The pandemic was the biggest economic shock in generations, so hitting milestones like 100 million customers and operations in over 500 cities are achievements we’re really proud of. When Bolt was first founded, our mission was to challenge the traditional taxi industry in Tallinn through a new ride-hailing service. Now our size and the range of products we offer put us in a unique position to revolutionise how people move around the cities. By providing an alternative to private cars, we can help create cities that are greener, safer and more pleasant to live in.”

The announcement of the company’s growth comes as Bolt marks its ninth anniversary since Markus Villig founded the company in Tallinn, Estonia, in 2013.  

“It’s important to stay grounded though – rising levels of inflation and interest rates mean we have to be disciplined when assessing how and in what markets we invest. This could mean prioritising growth efforts in our existing markets instead of expanding our services into new countries. Our culture of frugality helped us come out of the pandemic in a strong position, but the challenges are not going to stop and the team is focused on preparing for and responding to them,” Villig added.