It’s all happening at Estonian founded mobility firm Bolt this week. Just as it celebrates a birthday - ten years since founder Markus Villig started the company as a ride-hailing app - its brought in a shiny new CFO to begin its preparations for IPO.
Mikko Salovaara arrives in fresh from his position as Group CFO at Revolut - he was snapped up by Bolt after leaving the British neobank in May citing 'personal reasons'.
“In an industry where it is notoriously hard to operate profitably, Bolt stands head and shoulders above its competitors. The culture of maximising operational efficiency which was instilled by Markus ten years ago continues to guide the business today and has left Bolt well-positioned to reach and maintain long term profitability. I look forward to being part of this next stage in Bolt’s journey as the business prepares for IPO,” says Salovaara.
Bolt also released some pretty impressive milestones this week too. Operating in over 45 countries and 500 cities the mobility company, which has moved on from its days as solely a ride-hailing app to a smorgasbord of services including delivery services, car sharing and micromobility, has now surpassed 150 million customers. It also lays claims to having 3.5 million partners – which are drivers and couriers.
“Our core principles have remained the same since we were founded ten years ago – by being the most operationally efficient mobility platform in the world we can provide incredible value to our customers and partners. Having great service and attractive prices drive our industry leading growth, and we’re proud to now serve 150 million customers across 45 countries. This extraordinary scale will allow us to reach profitability over the next 12 months,” says Villig.
“Bringing Mikko’s expertise on board at this crucial time for the business will be invaluable as we continue our focus on long-term and sustainable growth, and begin our preparations for IPO.”
Main image: Mikko Salovaara
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