By Aishat Salihu
Estonia’s Bolt, a popular ride-sharing service in Eastern Europe and Africa has on Wednesday launched food delivery service in its home town of Tallinn, the nation’s capital, and said it plans to roll out Bolt Food this year in South Africa, Latvia and Lithuania as well.
Bolt, which until early this year was called Taxify, has grabbed business from Uber mostly in major African cities and Eastern Europe while operating in 30 countries.
Although, the ride-sharing service is a late entrant into the food delivery market, where a number of start-ups and other ride-sharing firms have operated for years but plans to grab market share with lower prices for consumers and a better cut for delivery personnel, while building on its wide user base.
Jevgeni Kabanov, the chief product officer at Bolt, in an interview with Reuters, said
“This is a very competitive market,”
“However, we have more than 25 million people around the world using Bolt and food delivery has been a popular request for quite some time”.
Recall that Bolt rebranded earlier in 2019 to ensure the ride-hailing service is not confused with taxis and to represent its widening offering where it also launched scooter rentals in selected cities.
“I would say food delivery is the third big product launch for us. It fits very neatly into our strategy,” Kabanov said.
Meanwhile, Bolt Food’s main rival in Tallinn will be Helsinki-based food delivery service Wolt, which has raised $160 million since the beginning of 2018.
Founded in 2013, Bolt has reportedly raised more than $200 million from investors, including Daimler and China’s Didi Chuxing Technology Co, among others.