Taxify rebrands as Bolt in drive to go electric


Tallinn (AFP)

Estonian ride-hailing service Taxify said on Thursday that it had changed its name to Bolt and planned to roll out its new brand focused on electric vehicles in the coming weeks.

The Uber rival, which also operates via a smartphone app, said its new name reflected changes in transportation.

"Our new name 'Bolt' stands for fast, effortless movement -- exactly what the experience of getting around in a city should be, be it by car, scooter or public transport," Markus Villig, the firm's co-founder, told local agency the BNS Baltic News Service.

"It also underscores our belief that the future of transportation will be electric," he explained, adding that the company "started to outgrow parts of the brand, including the name."

"As we have 10 million new users joining each year, it means that a large part of the customers we will have in several years, will know nothing of our current brand (Taxify)," he added.

Like Uber, Bolt allows users to book rides and pay for them without using cash.

Villig said Bolt app users will not need to take any action because the service will update automatically.

He launched the tech company in 2013 when he was only 19.

Business has boomed and it now claims 25 million customers in over 30 countries, according to the company website.

Investors including Daimler, Didi Chuxing, Korelya Capital and Internet currency exchange service TransferWise co-founder Taavet Hinrikus, it says.