EIB offers €50m to Bolt in Estonia 

The European Investment Bank (EIB) has signed a €50 million deal to support ride-hailing firm Bolt’s R&D efforts in Estonia. 
By Ben Spencer February 5, 2020 Read time: 1 min
Alexander Stubb (left) and Bolt co-founder Martin Villig (credit: EIB)

EIB says the funding is to support Bolt in areas where its technology can improve the safety and sustainability of its services. This includes investing in its existing services as well as personalised offerings like food delivery, the bank adds.

Bolt’s co-founder, Martin Villig, says the agreement “will enable us to move faster towards serving many more people in Europe”.

EIB’s vice president Alexander Stubb, says the bank’s support will allow Bolt to improve its services and branch out into new service fields. 

The financing is supported by the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe.
 

Mass Transit & MaaS

Related Content

  • September 15, 2015
    EIB backing for London transport
    The European Investment Bank (EIB) has agreed to provide US$1.5 billion for investment in the London transport network. The 35 year loan from Europe’s long-term lending institution will support major projects, including significant upgrades by Transport for London (TfL) at Victoria and Bank Tube stations, which will transform passenger access at two of the busiest stations in the capital. The new support was announced by Jonathan Taylor, vice president of the European Investment Bank and Steve Allen, ma
    Read More
  • October 15, 2012
    European Investment Bank supports electric cars in France
    The European Investment bank is to lend a total of US$265 million to support the research, development and deployment of an electric-car sharing service in Paris, France. Following a loan of US$168 million to Groupe Bolloré in 2011 to support the research, development and innovation process, further financing of US$75 million was recently agreed to help fund new services and will go towards: deployment of an interconnected roadside and recharging/parking network; research, development and innovation of subs
    Read More
  • October 2, 2017
    European Investment bank funds first Tampere Tramline
    The European Investment bank has provided a EUR 150m loan to the City of Tampere, Finland for the construction the first section of its tramline, connecting the city centre and eastbound suburbs, scheduled to open in 2021. The construction of the 15km long tramline is divided into two sections. Section 1 covers the construction of the route, linking the city centre, from Pyynikintori, with two branches:
    Read More
  • January 15, 2021
    Free Bolt rides to Covid vaccine centres 
    Ride-hailing firm extends offer to Londoners as UK government rolls out jab plan
    Read More

Highlighted Content