Tallinn-based mobility app Bolt has recently received a €220M revolving credit facility from a group of key banks. Bolt aims to reduce people’s dependence on cars by providing alternative transportation options to suit their needs. The capital will provide a stable financial base to support their operations and general financial requirements in their future endeavours.
Established by Markus Villig in 2013, Bolt has expanded its operations to more than 45 countries. The company develops an all-in-one mobility app, providing a sustainable alternative to traditional car ownership for both individuals and businesses. Bolt’s goal is to assist people in reducing their carbon footprint by offering a convenient mobility solution. Additionally, Bolt’s platform enables over three million drivers to generate income and facilitates easy commuting for 150 million people.
“Our inaugural revolving credit facility is an important milestone for Bolt, demonstrating the company’s strength and financial maturity. We have secured highly attractive terms due to our solid financial standing. It is a clear reflection of our banking partners’ confidence in our trajectory and provides us with additional flexibility as we work towards being IPO-ready,” says Markus Villig, Founder & CEO.
Citi acted as Co-ordinating Bookrunner and Mandated Lead Arranger. White & Case acted as legal advisor to Bolt and Clifford Chance acted as legal advisors to the lenders. Wilmington Trust is acting as both Facility and Security agent.
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Read the orginal article: https://arcticstartup.com/bolt-secures-e220m-revolving-credit-facility/
