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

For more information on companies in this article

Related Content

  • 50 years of Cubic Transportation Systems
    August 25, 2022
    If you detect an air of celebration on the Cubic stand, there’s a good reason for it. June 2022 marked 50 years of Cubic Transportation Systems. While Cubic Corporation started 70 years ago, the transportation business began in 1972 and has since been nurtured and developed into a successful $1 billion enterprise and an established leader in the transportation industry.
    Read More
  • Future of tolling: the priorities
    January 14, 2020
    In the final part of his investigation into the future of tolling technology, Josef Czako of Moving Forward Consulting asks what industry figures see as the priorities going forward…
    Read More
  • Europe calls for guidance on evaluating ITS projects
    December 4, 2012
    A European Commission study report has revealed a lack of consistency or standard practice for evaluating the funding needs and fiscal performance of ITS projects. New guidelines are urgently needed for monitoring public funding of ITS schemes, says a recent report from the European Commission (EC). A specially-commissioned study has found no readily available comparative analysis of transport funding schemes and ITS investment methodologies to support project decision making. A survey of nine EU member sta
    Read More
  • Qatar invests $70 billion to pave the way to world beating transportation
    July 26, 2013
    Eng. Zeina Nazer looks at what Qatar’s recently-announced investment in transport infrastructure will mean on the ground. Qatar is experiencing a rapid economic and industrial growth. This growth is characterised by a rapid population increase and by the urgent need towards the development of both infrastructure projects and major transport projects. In order to handle this rate of development within Qatar, Public Works Authority (Ashghal) is developing a fully-integrated multimodal transportation system in
    Read More

Highlighted Content