Bolt has announced the appointment of Mikko Salovaara as its new Chief Financial Officer(CFO) set to join the ride-hailing company later this month.

Bolt, Chief Executive Officer(CEO), Markus Villig, said bringing Salovaara on board will allow the company to reach profitability over the next 12 months.

“Bringing Mikko’s expertise on board at this crucial time for the business will be invaluable as we continue focusing on long-term and sustainable growth and begin our preparations for IPO.”

Further, the European mobility company has surpassed 150 million customers in over 45 countries and 500 cities.

Bolt’s 150 million customers are spread across its suite of mobility products, which include ride-hailing, micro-mobility (scooter and e-bike rental), food delivery, grocery delivery, Bolt Drive, a free-floating car-sharing service, and Bolt Business, a corporate mobility service.

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The Estonian company also announced that over 3.5 million partners (drivers and couriers) are currently using the app to earn a living, including over 1 million in Africa alone.