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Bolt hits milestone with 150m customers, appoints CFO

By , ITWeb
Africa , 06 Jul 2023
Mikko Salovaara Bolt's new chief financial officer.
Mikko Salovaara Bolt's new chief financial officer.

Global e-hailing platform Bolt has appointed Mikko Salovaara as the chief financial officer.

Before joining Bolt, Salovaara held the same position at Revolut, the financial super-app, and previously headed up regional finance teams at Kraft Heinz Co.

The Estonia-headquartered announced the appointment today, saying Salovaara brings his experience from some of the world’s fastest-growing companies to lead Bolt’s global finance function as the business moves closer to profitability and prepares for IPO.

Bolt says it continues to grow despite surging inflation, rising interest rates, and macroeconomic uncertainty across many markets.

The company operates in over 500 cities in more than 45 countries in Europe, Africa, Western Asia and Latin America.

“We’re now on track to become the first European mobility platform to be fully profitable within the next 12 months,” says Bolt.

Markus Villig, founder and CEO of Bolt, comments: “Having a great service and attractive prices drive our industry-leading growth,and we're proud to serve 150 million customers across 45 countries.

“This extraordinary scale will allow us to reach profitability over the next 12 months.

“Bringing Mikko’s expertise on board at this crucial time for the business will be invaluable as we continue to focus on long-term and sustainable growth and begin our preparations for IPO.”

Commenting on his appointment, Salovaara says: “In an industry where it’s notoriously hard to operate profitably, Bolt stands head and shoulders above its competitors. I look forward to being part of this next stage in Bolt’s journey as the business prepares for IPO."

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