Bolt Technology Hiring Managers for eScooter Rentals Launch in US

Estonian company Bolt Technology OU is reportedly looking to hire managers to launch eScooter rentals in several cities in the United States.

The firm posted job listings on LinkedIn last week seeking general managers and operations managers for such a venture in Los Angeles; Seattle; Austin, Texas; and other cities, Bloomberg reported Tuesday (May 7).

Bolt is active in more than 45 countries in Europe, Africa, Asia and Latin America, offering ride hailing, food delivery and scooter rentals, according to the report.

A scooter venture in the U.S. would compete against San Francisco-based Lime, which operates a network of shared eBikes and scooters in the U.S., Europe and Australia, is backed by Uber Technologies and is investing $55 million this year to grow its global fleet, the report said.

Both Lime and Bolt are positioning themselves for initial public offerings (IPOs), per the report.

Bolt reported May 3 that it secured a 220-million-euro (about $237 million) revolving credit facility from a syndicate of core relationship banks.

The company will use the facility to supplement its “strong cash position,” Bolt said in a blog post.

“Our inaugural revolving credit facility is an important milestone for Bolt, demonstrating the company’s strength and financial maturity,” Markus Villig, founder and CEO of Bolt, said in the post. “We have secured highly attractive terms due to our solid financial standing. It is a clear reflection of our banking partners’ confidence in our trajectory and provides us with additional flexibility as we work towards being IPO-ready.”

Lime said in April that it achieved a record-setting year in 2023, with more than 150 million total rides and $600 million in gross bookings.

“On the heels of another record-setting year, Lime is poised to continue our growth in 2024, with new vehicle options and plans for expansion to new cities,” Wayne Ting, CEO of Lime, said in an April 8 blog post.

Another electric scooter startup, Bird, filed for bankruptcy in December. However, Bird announced April 5 that it has successfully emerged from bankruptcy under a newly organized private parent company called Third Lane Mobility and will continue to operate in cities around the globe.