The company disclosed this figure on Thursday, attributing its growth to a diverse range of services and a firm focus on expanding in international markets.

Founded in 2013, Bolt has quickly evolved into one of the world’s leading tech enterprises, rooted in Estonia, a growing tech hub that is home to over 1,450 startups. 

CEO Markus Villig commented on the company’s strong belief in European innovation, countering the perception that world-class engineering and marketing are exclusive to Silicon Valley. He stated that the company is proving how a Europe-based company can thrive globally.

Bolt’s current services are not limited to ride-hailing,  it also includes scooter and e-bike rentals, food and grocery deliveries, and Bolt Drive, a car-sharing service. 

The platform is active in more than 50 countries, with over 500 cities on its list, and it holds the top position in the ride-hailing market in over 20 of these locations. 

The company’s drive has attracted attention, especially following a €628 million funding round in early 2022 that boosted its valuation to more than $8 billion.

Planning ahead, Bolt has set its sights on integrating autonomous vehicles into its operations. However, Villig was candid about the current challenges in the autonomous vehicle industry, noting that fully operational, cost-effective self-driving services that comply with regulatory standards are still several years away. 

He noted that ride-hailing firms like Bolt will eventually boost the market introduction of autonomous vehicles but acknowledged that achieving regulatory and commercial feasibility will require time.

The company has revealed plans for an initial public offering (IPO) as soon as 2025, which would be a huge step in placing Bolt at a top spot in global mobility and delivery services.

In Nigeria, Bolt has grown significantly in reach and revenue since its launch in 2016, with more than 250 million rides taken across the country by August 2023.

Nigerian users have collectively logged over 3 billion kilometres, asserting Bolt’s role in the country’s transportation sector. 

The platform’s success in Nigeria is seen in its global statistics of over 200 million customers across a suite of services, with 4.5 million drivers and couriers on the platform worldwide, including over one million in Africa.

Yahaya Mohammed, country manager for Bolt Nigeria, reaffirmed the company’s focus on supporting Nigeria’s ride-hailing space. 

He highlighted Bolt’s adherence to collaborating with driver partners, regulatory agencies, and other stakeholders to foster a thriving and sustainable ride-hailing industry in the country.

This means driver partners will now have the ability to dictate a chat message instead of typing it, and the Bolt app will transcribe it to text, and send it as a regular chat message to the rider. 

Driver partners can use this by tapping the microphone symbol in the respective chat, giving Bolt permission to use the phone’s microphone, dictating the message, checking and editing it as needed, and sending it as a message to the rider.

With this translation function, the chat upgrade starting with Android devices will help drivers communicate with tourists, many of whom already use Bolt while travelling to the 50+ markets around the world that Bolt operates in without needing to speak a shared language. 

It’s one of a number of ways Bolt enables driver partners and customers to communicate with each other, including in-app calls, chat messages and language programmes to help bridge language barriers.

The upgrade joins recent Driver App upgrades including Driver Compliments, which recognise exceptional service and motivate driver partners through sharing positive post-trip rating compliments and comments left by customers.

Yahaya Mohammed, Bolt’s Country Manager said: “At Bolt, we know how important it is to have quick and effective communication between driver partners and riders. With this upgrade, we enable driver partners in Nigeria to communicate more easily and swiftly with our riders. It’s one of a number of ways we support a high-quality platform through quick and easy communication between driver partners and riders, including in-app calls, chat messages, and language programmes aimed at helping bridge language barriers.”

This is part of Bolt’s ongoing investment in safety features on its platform, reinforcing its unwavering commitment to driver safety and enhancing driver-rider trust. 

This in-app feature is designed to bolster driver safety by implementing a stringent verification process for new riders joining the Bolt platform.

As part of this in-app feature, new riders to the platform will be asked to take a selfie before they are able to place a ride-hailing order. For the selfie to be valid, it needs to be an authentic picture of a physically present person, with the face clearly visible. The rider will not be able to place a ride-hailing order if their selfie is not valid.

The rider must also upload an identification document, which Bolt will check against the selfie. The validation process takes a couple of minutes, and riders only have to take a selfie the first time they place an order. This feature will be tested in Nigeria, and requires the latest version of the app to use.

Yahaya Mohammed, Country Manager for Bolt Nigeria said: “At Bolt, we know from our 150M+ customers and network of 3.5 million fleet, driver and courier partners that feeling safe is a critical part of a high-quality ride-hailing experience. That’s why safety is our top priority, and rider verification is the newest feature we’re testing dedicated to upgrading driver safety. It’s part of our ongoing investment in new products, features, and our dedicated in-house specially trained safety team, to ensure that we can continue to improve the safety ecosystem of the Bolt app.”

This is the latest safety feature announced by Bolt, with the tests joining a suite of existing driver safety features. Existing driver safety features include an emergency response service integrated into the app. When activated, this service shares the driver’s details and location 

with AA’s 24/7 contact centre and then deploys private security and emergency services immediately. Lastly, an audio recording feature that allows drivers to trigger an in-app audio recording if they ever feel uncomfortable during a ride. Recordings are encrypted and stored on the recorder’s device for 24 hours. Neither driver nor passenger can access the recording for any other purpose than to attach it to a Customer Support case. If the encrypted recording is not submitted to the Bolt Customer Support team, it is deleted within 24 hours.

The testing of the Rider Verification feature represents a pivotal step in Bolt’s ongoing efforts to continually enhance safety measures on its platform. Passengers are encouraged to update their Bolt app to the latest version to access this feature and contribute to the collective goal of creating a safer ridesharing environment.

The driver engagement hub will further support and strengthen the tens of thousands of driver-partners earning with Bolt in Lagos.

Located at no 11 Providence Street, Lekki Phase 1, the driver hub will enhance the quality of service drivers will experience through this hub. Improved driver support, effective communication channels, training opportunities, community building, issue resolution, driver appreciation, positive branding and help new driver-partners get on the road in as little as an hour or two.

Additionally, the hub will also serve as a Lost and Found centre where passengers can pick up their personal items forgotten in Bolt vehicles during their rides.

Yahaya Mohammed, Country Manager, Bolt Nigeria says;

“This is part of our long-standing commitment to invest in our operations to provide better support to our driver-partners and ensure that they continue to thrive. Drivers are at the core of our business, and we want to see them succeed and grow their earnings. We also understand that every moment matters and we’re always looking for ways to optimise the experience of existing and new driver-partners to get the most out of their time on the road.”

“Bolt has had a driver hub in Lagos since 2017, but given our strong and growing driver community, we were eager to open a more functional, modern and technologically enabled support centre for us to reinforce our commitment to continually providing real-time, onsite support to our driver-partners,” Yahaya said.

The new Bolt driver hub will serve as a quick and convenient resource for partners across the metro area – where they can sign up to drive or ask questions about the app.

Bolt continues to work on the holistic driver experience and to provide support needed by drivers to ensure that they remain successful in their businesses.

The company said it remains committed to ensuring that feedback received from drivers is implemented into the business.

Bolt Nigeria is celebrating having recorded over 7 times growth in the rides business since it was launched in 2016.

This comes as the leading mobility company in Europe and Africa is commemorating its 10 years of global operations.

In Nigeria, Bolt has also facilitated over 250 million rides since its 1st year in the market, and has seen over 3 billion kilometres in distance recorded by users on the app.

Over the past decade, despite significant headwinds including a surge in inflation, rising interest rates and uncertain macroeconomic outlook across many markets, Bolt has grown from a groundbreaking startup to a global leader in the mobility sector.

Both globally and locally, Bolt remains focused on providing an innovative technology platform that enhances safety, affordability, and sustainability. 

Recently, Bolt announced that it has surpassed 150 million customers in over 45 countries and 500 cities.

These customers are spread across its suite of mobility products which include ride-hailing, micromobility (scooter and e-bike rental), food delivery, grocery delivery, Bolt Drive, a free-floating car-sharing service, and Bolt Business, a corporate mobility service. Bolt also announced there are now over 3.5 million partners (drivers and couriers) using the app to earn a living, including over 1 million in Africa alone. 

“As we reach these remarkable milestones in the ride-hailing market, we remain steadfast in our commitment to ensuring safety, affordability, and reliability for all users on our platform. Even amid the challenges posed by the ever-changing macroeconomic landscape, our dedication to providing exceptional service remains unwavering. We also remain dedicated to collaborating with our driver partners, regulatory bodies and other industry stakeholders to ensure the growth of the ride-hailing industry in Nigeria.” said Yahaya Mohammed, Country Manager.

Among the noteworthy milestones achieved by Bolt Nigeria include:

• Championing for women empowerment, through the women at the wheel campaign, which seeks to address the under-representation of women in the mobility sector and help women access the additional earning opportunities provided by working as a driver on a ride-hailing platform. 
• Facilitated almost 300 million rides, through reliable mobility options for riders to their destinations, effortlessly.
• Implemented innovative safety features and protocols to safeguard the welfare of both riders and drivers. For example, the audio trip recording feature which empowers both drivers and riders to initiate an audio recording of their trip within the Bolt app, offering a solution in situations where they may feel uncomfortable during the ride.
• Continuously innovating the app and services to enhance user experience, including the recent introduction of scheduled rides option that allows users to book a ride up to 72 hours in advance, ensuring utmost convenience and a seamless travel experience

“Bolt remains committed to consistently enhancing the overall user experience on its app. Through innovation and strategic investments, and the continuous provision of reliable, affordable and safe mobility options”, Mohammed said.