Taxify Rebrands to Bolt, as It Looks to Raise a New Round of Funding

The next time you pick your phone to order a Taxify ride and you see the bolt logo, please don´t get jolted in surprise. The ride-hailing company from Estonia (for those who think it is a Nigerian company) backed by Didi and Daimler is removing Taxi from its name and rebranding as Bolt, the same that it has been using for its electric scooter service.

The company, now active in 30 countries, is set to double down on providing multiple transportation options beyond private cars and reports say the change in name and vision is coming on the heels of seeking for another round of funding.  

Bolt last raised money in 2018, when it closed a $175 million round at a $1 billion valuation led by Daimeler. It has now expanded quite a bit from the last time, from 10 million users in 25 countries back then to 25 million users in 30 countries now across Europe, Africa and other territories.

According to CEO and Co-founder, Markus Villig, the rebrand from Taxify to Bolt is serving a few purposes. “Tapping into the basic meaning of ‘bolt’, the new name implies speed, as well as electricity…we are bullish that the future is fully electric and so we wanted a name that moved us away from the combustion engine,” he said.

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Bolt Taxify CEO and co-founder Markus Villig

Meanwhile, its apps and their various listings in app stores, for the time being, will change to “Bolt(Taxify)”.

 

Anyway, it is time to bolt away, can you kindly order a ride?

Opeyemi Olugbemiro

Your tech story amazes me. When you think of a tech innovation that makes life better, you've caught my attention. #SerialOptimist Contact: opeyemi@zumalo.com

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