Bolt Expands into Danish Market with Viggo Acquisition
Deal News | Mar 25, 2025 | EIN
Estonia-based mobility giant, Bolt, has entered the Danish ride-hailing market by acquiring Copenhagen-based Viggo, an electric taxi platform. This strategic move not only reinforces Bolt's sustainable mobility portfolio but also makes it the largest ride-hailing operator in Denmark. With this first acquisition since its inception, Bolt, which operates in over 600 cities globally, aims to integrate its services offering a seamless transition between e-bikes and electric taxis in Denmark. Both companies' leadership sees this acquisition as a means to enhance urban mobility through shared environmental goals and technology ecosystems, aligning with broader industry trends toward consolidation and zero-emission transport.
Sectors
- Mobility Services
- Sustainable Transportation
Geography
- Denmark – The acquisition of Viggo by Bolt specifically pertains to the Danish market, where Bolt aims to become a leading ride-hailing service provider.
- Estonia – Bolt is headquartered in Estonia and has expanded its operations globally, marking its move into Denmark with this acquisition.
Industry
- Mobility Services – This industry encompasses services that provide transportation solutions such as ride-hailing, e-scooters, e-bikes, and car rentals. Bolt's acquisition of Viggo falls under this classification as it expands its ride-hailing offerings.
- Sustainable Transportation – The focus on electrified fleet and zero-emission goals positions the activity in the sustainable transportation industry, relevant due to the environmental strategy of both Bolt and Viggo.
Financials
- Undisclosed – The acquisition price for Viggo by Bolt wasn’t publicly disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bolt | Acquiring Company | Company | An Estonia-based mobility platform known for services broadly across ride-hailing, e-bikes, and food delivery. |
| Viggo | Target Company | Company | A Copenhagen-based electric taxi platform offering a fully electric fleet primarily in Copenhagen and Aarhus. |
| Markus Villig | CEO of Bolt | Person | Founder and CEO of Bolt, overseeing the company's strategic acquisitions and expansions. |
| Kenneth Herschel | CEO of Viggo | Person | CEO of Viggo, instrumental in aligning Viggo’s strategy with Bolt's goals post-acquisition. |