Bolt Sets Sights on Canadian Market with Driver Recruitment Drive
Bolt Technology, the fast-growing European ride-hailing giant, is making a bold entry into Canada. According to Bloomberg, the Estonia-based company has started recruiting drivers in multiple Ontario cities as it prepares to launch its services. This strategic move marks Bolt’s latest effort to expand its North American footprint after introducing its scooter rental business in Washington, D.C.
Expanding Beyond Europe: Bolt’s Global Footprint
Operating in over 45 countries across Europe, Africa, Asia, and Latin America, Bolt has built a reputation as a fierce competitor to Uber. The company offers a diversified range of services, including ride-hailing, food delivery, and scooter rentals, making it a one-stop mobility platform.
In the U.S. and Canada, Bolt operates under the name Hopp to distinguish itself from a now-defunct company associated with Olympic legend Usain Bolt.
Target Cities in Canada
Bolt’s recruitment website indicates that the company is gearing up to enter key markets in Ontario, Canada. The cities listed for launch include:
- Toronto
- Mississauga
- Markham
- Vaughan
- Richmond Hill
These cities represent some of the largest and most commuter-heavy urban centers in Canada, signaling a strong push to compete with established ride-hailing services like Uber and Lyft.
Financial Backing and Growth Strategy
Bolt’s aggressive expansion has been fueled by substantial funding. In 2022, Sequoia Capital and Fidelity Management led a €7.4 billion funding round, providing Bolt with the capital to scale its operations globally. This financial backing has enabled the company to invest heavily in driver recruitment, technology, and market penetration strategies.
The Road Ahead
With its upcoming launch in Canada and continued North American expansion, Bolt is positioning itself as a formidable challenger in the ride-hailing industry. As the company builds its driver network and finalizes preparations, Canadian commuters can soon expect a new alternative in urban transportation.
