Funding

Bolt funding news – Mobility Platform Bolt Secures €220 Million in Funding

May 3, 2024 | By Startup Rise EU

Bolt, a multinational shared mobility platform with its headquarters located in Tallinn and formed in 2013, has obtained finance for a syndicated revolving credit facility (RCF) of €220 million.

SUMMARY

  • Bolt, a mobility platform located in Tallinn, has secured a €220 million syndicated revolving credit facility in its first fundraising round.

Bolt, a multinational shared mobility platform with its headquarters located in Tallinn and formed in 2013, has obtained finance for a syndicated revolving credit facility (RCF) of €220 million.

The facility saw strong demand at first, was significantly expanded throughout syndication, and was eventually oversubscribed, demonstrating the financial institutions' faith in Bolt's future prospects and sound financial standing.

Read also - Security Platform Aikido Secures over €15.8 Million in Fresh Series A Round Funding – FUNDING NEWS

With this historic financing, which was supplied by a group of leading relationship banks such as Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan, LHV Pank, and Luminor, Bolt is better positioned to pursue its strategic goals and continue to grow.

Markus Villig, Founder & CEO of Bolt, said: “Our inaugural revolving credit facility represents a significant milestone for Bolt, affirming our company’s resilience, financial maturity, and promising future. We have secured highly favourable terms reflective of our solid financial footing, underscoring the confidence our banking partners place in our vision. This financing provides us with additional flexibility as we advance towards our goal of being IPO-ready.”

It's approach to liquidity management is in line with the €220 million facility, which is presently undrawn and used for general business purposes. This allows the firm to pursue its strategic goals with confidence and agility.

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Clifford Chance advised the lenders, White & Case advised Bolt, and Citi handled the roles of Coordinating Bookrunner and Mandated Lead Arranger for the deal. Wilmington Trust takes on the vital responsibilities of Facility and Security agent, which further improves the financing arrangement's operating effectiveness.

Read also - [FUNDING NEWS] Germany-based Deltia.ai secures $4.8Million in Seed Funding.

The fact that this syndicated revolving credit facility was executed successfully highlights it's leadership position in the shared mobility industry and shows how financial institutions are confident in the company's development potential and strategic direction.

About Bolt

At Bolt, they were constructing a world in which people can travel about conveniently and safely without requiring their own automobiles. a time when individuals are free to utilise transportation whenever they choose, selecting an e-bike, automobile, or scooter depending on the situation.

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