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Ride-hailing service Bolt said on Tuesday it has raised Sh11.5 billion ($109 million) from London-based investment firm Naya Capital Management in a deal valuing the European rival of Uber at 1.7 billion euros.
Bolt said the funding would allow it to grab market share in a sector hurt by COVID-19, as lockdowns have kept customers indoors, and rivals Uber, Lyft and Softbank-backed Ola cut thousands of jobs.
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