The latest funding round from Bolt has closed with funds amount to R10.3 billion, increasing the company’s valuation to R68.6 billion.

The funding was raised through new investors including Sequoia, Tekne and Ghisallo as well as existing investors which includes G Squared, D1 Capital and Naya.

“Bolt is redefining urban transportation in much of the world. Markus is a driven founder who has built an operationally excellent business spanning Europe and Africa, and a mission-driven culture that forms the foundation of an enduring company,” partner at Sequoia, Andrew Reed, said in a statement.

This funding, the firm says, will be used to develop Bolt’s new 15-minute grocery delivery service – Bolt Market.

Bolt Market will be launched in 10 European countries over the next few months including the Baltics, Central Europe, Sweden, Portugal, Croatia and Romania. Unfortunately Bolt Market will not becoming to South Africa, at least not for the foreseeable future.

That having been said, Bolt did say that, even without access to Bolt Market, South African users will ultimately benefit from this investment injection.

“Bolt continues to expand on its range of transportation options for different distances and needs, so that our customers can give up their personal cars and contribute to cleaner cities worldwide. In South Africa, these categories already include Bolt Go, Bolt Premium, Bolt Business, Bolt Women Only, Bolt XL, and Bolt Van, in addition to the original service. We look forward to expanding our products and services in the future,” said regional manager for Bolt Southern Africa, Gareth Taylor.

Bolt is available to download for free for Android, Apple iOS and the Huawei AppGallery.