Bolt’s IPO Plans: A Major Shift in the Ride-Hailing Industry

Bolt Technology OU, the Estonian mobility firm and a key competitor to Uber, is exploring the possibility of an initial public offering (IPO). According to sources familiar with the matter, the company has enlisted financial advisory firm PJT Partners Inc. to assess its options. The listing could take place as early as next year, with Bolt considering exchanges in both Europe and the US. However, discussions are still in the early stages, and plans may change.

As the company moves toward a potential public listing, it continues to navigate regulatory and legal challenges. Recently, a court ruling addressed Bolt’s employment tribunal case and its impacts, which could influence the firm’s operational model and investor outlook.

Strategic Planning and Financial Position

A Bolt spokesperson stated:

"As with any company considering a public listing, we consult with specialist advisers on a number of areas to assist. We continue to evaluate a number of potential listing venues."

The company secured a €220 million ($231 million) credit facility last year, which CEO Markus Villig said would help Bolt become "IPO-ready." Previously, the firm raised €628 million in a 2022 funding round, reaching a valuation of €7.4 billion. Investors included Sequoia Capital and Fidelity Management.

Global Expansion and Market Competition

Bolt operates in multiple regions, including Europe, Africa, Asia, and Latin America. Recently, the company expanded into North America under the app name “Hopp.” Its IPO plans align with other European tech firms, such as Klarna Group Plc, which is reportedly preparing for a US listing in 2025.