Estonia-based mobility company Bolt has quietly launched its operations in Malaysia, marking its second expansion in Southeast Asia after Thailand.
The company, operating as Bolt Services MY Sdn Bhd, has received approval from the Land Public Transport Agency (APAD) to join Malaysia’s list of 33 licensed e-hailing operators. To attract new users, Bolt is offering a 50% discount on their first seven bookings until 16 November 2024.
According to Tech in Asia, the service has already begun operations in the Klang Valley and Kuala Lumpur regions. The app is now available for download on both Android and iOS platforms, with the company having begun driver recruitment as early as August.
Founded in 2013 by a 19-year-old secondary school student with just €5,000, Bolt has grown to operate across 45 countries spanning Europe, Africa, Western Asia, Southeast Asia, and Latin America. While the company offers various services globally, including food and grocery deliveries, car rentals, micromobility solutions, and business travel services, its Malaysian operations will initially focus solely on ride-hailing services.
“Several job roles were listed on LinkedIn since August this year, looking for a country manager,” The Star reported, indicating the company’s commitment to establishing a strong local presence.
The launch represents Bolt’s 46th market expansion globally, potentially challenging Grab’s dominant position in Malaysia’s e-hailing sector. The company’s global presence includes over 100 million customers across their markets, with their platform facilitating over 1 billion rides annually.
Bolt’s entry into Malaysia follows its successful expansion model, typically starting with basic ride-hailing services before potentially introducing its wider portfolio of mobility solutions. The company’s global valuation reached €7.4 billion in its last funding round, making it one of Europe’s most valuable mobility companies.
