Estonian ride-hailing and food delivery startup Bolt expects to turn profitable in the next 12 months and be ready for an initial public offering in 2025, its Chief Executive Officer Markus Villig said in an interview.
, was valued at over $8 billion when it raised 628 million euros from investors in January last year.
"We are planning to be ready to go public in 2025," he said, adding that a final decision will depend on market conditions at that time. "Out of all the African countries, we've so far only launched in seven... over the next 10 years Africa remains a massive opportunity for us," Villig said.in Africa where many people are more likely to have a mobile phone than a bank account.The company has not publicly disclosed its revenue but Villig said the company is doing single-digit billions of dollars of transactions on the platform every year.
The food delivery sector was among those boosted by the COVID-19 pandemic, but the effect has waned as consumers, faced with surging prices, have cut discretionary spending.
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