Estonia-based e-hailing platform, Bolt, has announced the appointment of Mikko Salovaara as its Chief Financial Officer (CFO). Salovaara brings with him extensive experience from leading global companies such as Revolut and Kraft Heinz Co, and will lead Bolt’s global finance function as the company moves closer to profitability and prepares for an initial public offering (IPO).
Despite the challenges posed by surging inflation, rising interest rates, and macroeconomic uncertainty, Bolt continues to demonstrate impressive growth. Operating in over 500 cities across Europe, Africa, Western Asia, and Latin America, the company serves more than 150 million customers in 45 countries.
Markus Villig, Founder and CEO of Bolt, expressed confidence in the company’s trajectory, stating that Bolt is on track to become the first European mobility platform to achieve full profitability within the next year. Villig attributed Bolt’s success to its exceptional service and competitive pricing, which have propelled its industry-leading growth.
Salovaara’s appointment comes at a crucial time for Bolt as it focuses on long-term and sustainable growth while preparing for an IPO. His expertise and strategic financial leadership will be instrumental in guiding the company’s financial strategy and strengthening its position in the market.
Salovaara expressed enthusiasm for joining Bolt, highlighting the company’s standout performance and profitability within an industry known for its challenges. He looks forward to contributing to Bolt’s continued success and growth as it prepares to enter the next phase of its journey.
With Salovaara onboard, Bolt aims to capitalize on its significant market presence and continue its expansion, while working towards sustainable profitability and delivering value to its customers and shareholders.