Uber rival Bolt secures €220M in prep for IPO

Estonian mobility startup Bolt has secured a €220mn credit facility as it plans to go public next year.   This type of financing is a more flexible loan option, which allows a business to withdraw and repay funds as needed, on an ongoing basis. Kind of like a credit card for companies.  The credit facility provides Bolt “with additional flexibility as we work towards being IPO-ready,” CEO and founder Markus Villig said in a statement. Lenders include Barclays, Deutsche Bank, Goldman Sachs, and JPMorgan. The money supplements Bolt’s “strong cash position” and “strengthens its liquidity profile,” the company said. Alongside…

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