Ride-hailing service Bolt expands to electric bikes with Paris launch

TALLINN (Reuters) - Uber Technologies Inc’s European rival, Bolt, on Wednesday launched an electric bike-sharing service in Paris, and said it would expand the offering to more European capitals this year.

Ride-hailing service Bolt also offers scooter rental and food delivery.

“Our new e-bikes sharing service will help to fulfil the demand for light, green individual modes of transport, which has seen growth due to European cities gradually coming out of COVID-19 lockdown,” Dmitri Pivovarov, unit head at Bolt, said in a statement.

In May, Bolt raised 100 million euros from London-based investment firm Naya Capital Management in a deal valuing the Estonian firm at 1.7 billion euros ($1.91 billion).

Founded in 2013, Bolt now has more than 30 million users in 35 countries. It has grabbed business from Uber mainly in major African cities and in Eastern Europe.

Reporting by Tarmo Virki in Tallinn; Editing by Matthew Lewis