Bolt Raises €150 Million to Bolster Quality and Safety of its services
Ride-hailing app Bolt has raised Ksh.19.8 billion funding from D1 Capital Partners to bolster safety and security measures on its platform.
The funds will go into improving safety, security and quality of Bolts’ services as it continues to expand its ride-hailing, micro mobility and food delivery services in Europe and Africa. This includes investments in safety features like facial recognition and artificial intelligence tools.
“Safety is one of the areas we will continue to grow and innovate for the benefit of our customers. We’re planning to launch a more innovative solution, like driver face verification and automatic trip monitoring, using machine learning to prevent potential incidents and ensure the highest quality service for our customers. We are thrilled to have the D1 Capital Partners with the support of Darsana Capital Partners join the ranks of our backers as this enables us to move faster towards serving many more people in Europe and across the world”, said Markus Villig, CEO and co-founder, Bolt.
Bolt pioneered safety initiatives in the industry, providing a number of ride-hailing safety features in both its rider and driver apps including an SOS button, designed to let users contact emergency services quickly if needed.
The company has also ensured that its safety features are easily accessible from the app's home screen on the platform to improve safety and well-being of riders and drivers during a Bolt trip. Additional safety features such as “Share your ETA”, where a rider can share his/her live trip details with emergency contact numbers also ensure safety throughout the lifecycle of the riders’ journey.
“Our customers deserve safe, quality and affordable rides and we work hard to meet the highest standards of our service. We are excited to make movement for our customers safer, affordable and of high quality across the country. This also comes hand in hand with our commitment to offering the best comparative earnings for individuals who choose to drive and earn on the Bolt platform. We are focused on creating innovative and safe services that will enhance urban mobility and provide viable economic opportunities across the world”, said Ola Akinnusi, Country Manager.
The firm’s app now counts more than 50 million users in over 40 countries across Europe and Africa.