Bolt receives €20m funding from the World Bank’s IFC

Mar 4, 2021

1200x628_bolt receives funding from IFC

We’re delighted to announce that we’ve received €20 million in funding from the International Finance Corporation (IFC), a member of the World Bank Group.

This fund will help us continue to develop mobility solutions that create earning opportunities, stimulate entrepreneurship and improve access to transportation in emerging economies.

Empowering women and improving access

One of the shared goals of Bolt and the IFC is to empower women and improve their access to mobility.

Stephanie von Friedeburg, IFC Senior Vice President of Operations, said:

“Technology can and should unlock new pathways for sustainable development and women’s empowerment.

Our investment in Bolt aims to help tap into technology to disrupt the transport sector in a way that is good for the environment, creates more flexible work opportunities for women, and provides safer and more affordable transportation access in emerging markets”.

Bolt recently introduced a Women Only ride-type for our customers. This service connects female drivers with female passengers, aiming to address safety needs and improve women’s mobility and access to earning opportunities.

We plan to launch this ride-type in more countries and cities throughout the year.

Providing strategic value to emerging economies

“We are looking forward to partnering with IFC to further support entrepreneurship, empower women and increase access to affordable mobility services in Africa and Eastern Europe.

Together with the investment from the European Investment Bank last year, we are proud to have sizable and strategically important institutions backing us and recognising the strategic value Bolt is providing to emerging economies”.

– Markus Villig, CEO of Bolt

Join the Bolt movement

Our mission is to make ride-hailing, micromobility and food delivery affordable and accessible for all.

If you’d like to take part in our journey, download the app and get going. If you think you can help us by contributing your skills to our team, check out our open positions and apply!

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