Uber rival Bolt re-opens in London with $1bn valuation

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Bolt, a rival to ridesharing firms Uber and Lyft, has completed a new fundraising round valuing it at around $1 billion.

The company, based in Estonia, offers ridesharing, scooter, and food delivery services.

Bolt recently returned to London, nearly two years after it was shut down following a TfL investigation.

It originally opened in the capital in 2017, but was forced to close after three days as TfL looked into its licensing arrangements.

Now, Bolt has closed a new round that it says will help fund its international expansion.

As TechCrunch reports, the company has not disclosed the size of the new investment. But its previous fundraising round yielded $185 million, at a valuation of around $1 billion.

TechCrunch understands the round includes backing from Swedish fund Nordic Ninjas, Naya Capital, and G Squared.

The latter's portfolio includes investments in Airbnb, Pinterest, and Spotify.

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