Mobility startup Bolt announced on Monday that it has raised €600 million from investors, Reuters reports, cited by Agerpres. The company will use the funds for fast delivery of food, a highly competitive market, and it wants to become “Europe’s first super app” by expanding its service business.

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Following the funding round, which values Bolt at more than €4 billion, the Talinn-based company is better placed than European rivals Getir, Gorillas and Jokr.

Bolt claims it will become “Europe’s first super app”, expanding its business from ride-hailing services and electric scooter rentals to food delivery.

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The company will launch a 15-minute food delivery program called Bolt Market, in 10 European countries in the coming months.

Bolt has raised funding from new investors such as Sequoia, Tekne and Ghisallo, as well as from existing backers G Squared, G1 Capital and Naya. In the previous funding round in December, the company raised €150 million from investors.

Bolt, an Estonian company formerly known as Taxify, competes with Uber in the ride-hailing market. It also operates electric scooters and has launched a food delivery service. The company was founded in 2013 and has more than 50 million users in more than 40 countries, mostly in cities in Eastern Europe and Africa.

Bolt is present in Romania with its passenger transport, product transport, electric scooter rental, food delivery (Bolt Food) and software development division, which serves all of the company’s European subsidiaries. Bolt services are available in Bucharest, Cluj, Timisoara, Constanta, Iasi and Brasov.