Bolt was founded in 2013 by Markus Villig, Martin Villig, and Oliver Leisalu. In 2020, CEO Villig said "most likely, we will IPO, but it’s not a near-term necessity," stating that "one of the benefits of being frugal is that we don't need to raise that much funding to grow." These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Bolt, an Estonian rideshare company, reports to have more than 100 million users. While the company is active in over 45 countries, it does not have plans to launch in the United States where the market is dominated by popular apps such as Uber and Lyft. Bolt has, however, had success in European and African markets. The company has raised $2 billion in venture capital funding, most recently in a 2022 round that raised nearly $700 million. Investors include Whale Rock Capital Management, Tekne Capital, Sequoia Capital, and Owl Rock Capital. The last round of funding pushed Bolt to an $11 billion valuation.