Bolt to use EIB loan to expand services in Hungary

Deals

Taxi company Bolt will use a EUR 50 mln venture capital loan from the European Investment Bank (EIB) to start new services in Budapest and Debrecen, as well as other markets where it is present, Bolt told state news wire MTI.

Bolt and the EIB announced the loan on Friday. Bolt said it would use the funding to develop and expand its services and expand its market.

Bolt, launched in Estonia in 2013, is now present in 35 countries and boasts a staff of 1,400. Its services include tour organization and meal delivery services,

It started offering services in Budapest in 2016 and in Debrecen - Hungaryʼs second-largest city - in 2018. Bolt vehicles in Hungary operate as registered yellow cabs.

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