Bolt targets corporates with new business strategy

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Bolt, the leading European on-demand transportation platform has launched ‘Bolt for Business’, a plan that allows companies to manage and pay for all corporate trips from one central location.

On the new Bolt for Business portal, account managers can set up company-wide rules and control when and who can use business trips, making it simple to budget for and get a clear overview of the company’s transportation expenses.

The platform also enables the corporate to set and customise the spending allowances and the number of trips employees can take. It is also possible to require employees to report the purpose of the trip before the ride. The new system can be used on both desktop and mobile.

Olaoluwa Akinussi, Country Manager, Bolt Kenya said: “A growing number of Bolt trips are taken for business purposes, whether it’s commuting to work, rushing to client meetings or getting to the airport. Most companies still require invoices from their employees to be able to reimburse for the cost of the trip. Through this, Bolt aims to speed up and streamline the payment process for corporate employees, making it the preferred ride-hailing application for corporates.”

According to the management, Bolt for Business helps companies save time and money on individual expense reporting and the related paperwork.

“Instead of having employees collect and report individual invoices for trips taken via a ride-hailing service, Bolt for Business customers will have all the information about their employees’ corporate Bolt trips stored in a single location without any extra effort. Paying for the trips is also a lot easier – instead of reimbursing each individual employee, you pay once a month via a corporate bank card or a bank transfer,” Akinussi said.

Additional functionalities such as adding restrictions to specific time and location for taking trips and a prepaid payment method will be added to Bolt for Business later this year, the management said in a statement.

Bolt for Business is available in more than 25 markets across Europe and Africa.

Bolt, formerly known as Taxify, is a leading European transportation platform that’s focused on making urban travel easier, quicker and more reliable.

READ:Taxify is rebranding as Bolt

Founded by Markus Villig, Bolt launched in 2013 is one of the fastest-growing transportation platforms in Europe and Africa with investors including Daimler, Didi Chuxing, Korelya Capital and TransferWise co-founder Taavet Hinrikus.

Bolt which operates a taxi hailing service is one of the fastest-growing transportation platforms in Europe and Africa, with more than 25 million users in over 30 countries globally.

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Martin Mwita is a business reporter based in Kenya. He covers equities, capital markets, trade and the East African Cooperation markets.

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