While the Estonian tech ecosystem is rich and varied, Bolt is currently an undeniable crown jewel of it, being listed among Europe’s most valuable startups.
The mobility company isn’t slowing down ahead of its much-rumoured IPO, adding more markets. Today, Bolt announced its first-ever acquisition by purchasing Danish taxi startup Viggo for an undisclosed amount, marking its entry into Denmark’s ride-hailing market, as reported by Sifted.
Founded in 2019, Viggo has built a fleet of 300 electric vehicles and amassed approximately 450,000 users across Copenhagen and Aarhus. The company focuses on electrifying urban mobility with ultra-fast EV chargers and EV-based ride-hailing services.
“We have always had a high bar for M&A, but we share Viggo’s mission to improve cities and were impressed by their fully electric operations. The acquisition means we will become the largest ride-hailing operator in Denmark,” said Bolt founder and CEO Markus Villig.
Bolt CEO Markus Villig with Bolt Drive car
In addition to acquiring Viggo, Bolt announced a new partnership with another Danish taxi company, Taxi 4×27, making their fleet of over 600 vehicles available on the Bolt platform.
Denmark remains one of the few European countries with regulations that have limited international ride-hailing companies, resulting in higher costs compared to countries with competing taxi apps. The process is different and easier in Estonia, where mobility operators deal with a single digital platform for licensing, reporting, and compliance, avoiding bureaucratic hurdles common in other countries.
Bolt’s expansion
While Bolt already offers e-bike rental services in Copenhagen, this acquisition marks its first entry into Denmark’s ride-hailing market. The Estonian company, founded in 2014, has grown into a global transportation platform offering various services including:
- Ride-hailing (Bolt Rides)
- E-scooters and e-bikes
- Food delivery (Bolt Food)
- Grocery delivery (Bolt Market)
- Car-sharing (Bolt Drive)
- Corporate mobility services (Bolt Business)
The company assures its rides in Europe are 100% carbon-neutral as part of its Green Plan commitment to reduce its ecological footprint. The company is also partnering to offer robot delivery and novel transportation solutions.
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