NAIROBI, Kenya, Feb 22 – Markus Villig was always passionate about technology while growing up in Estonia.
He clearly understood the power of tech to change the lives of millions of people across the world.
Growing up in Tallinn, he did not envision how big the company would become in the future.
“Actually, I have always been passionate about technology. I believe that’s the best place to be if you want to have a positive impact on the world because there are not too many industries where you can be a 19-year old kid from a small country, and influence the lives of millions of people,” Villig told Capital Business in Nairobi last week.
Villig spoke while on an African visit to Kenya and South Africa.
In Kenya, he met with the Kenyan Prime Cabinet Secretary, the Cabinet Secretary for Trade, Investment, and Industry, the Cabinet Secretary for ICT, the Cabinet Secretary for Transport, and the Governor of Nairobi County.
The 29-year-old says it was at the university where his passion for tech grew even stronger.
After being at the university for less than a year, he quit a course in Computer Science to focus on the startup.
So, in 2014, he formally launched Bolt, a mobility company in the Eastern European nation.
During the first six months of the firm, he was busy marketing and testing the products on the streets of Tallinn.
“We started the company in 2014 in Estonia and during the first six-months of the company, I was actually going around the streets of Tallinn signing up the taxi drivers one by one, and then building on the app at night. We officially launched in August 2014 first in Tallinn, Estonia, and then we began to gradually expand to more and more countries,” he adds.
After Europe, he expanded the concept to other European countries and then Africa.
On the continent, the company first launched in South Africa in 2016, before setting up in Kenya, Ghana, Nigeria, Uganda, Tanzania, and Tunisia.
Bolt, which is in 70-cities in Africa, offers three core products: ride hailing, food, and grocery delivery.
Bolt Business, the company’s corporate travel arm, also has clients in Nigeria, South Africa, Ghana, Tanzania, and Kenya.
With 900,000 drivers and 500 employees spread across seven African markets, it currently serves over 47 million customers.
“We first launched Bolt across Europe, and then six years ago we launched in Africa and now we are in seven countries here today now.”
While many hone their skills while interning or in full-time employment, Villig started the company from scratch at 19 years old.
“So, I only managed to go to university for the first six months. I was studying Computer Science. I started Bolt before I went to university and then I dropped out a year in,” Villig says, adding that he saw no need to focus on studies but on the idea he had, since he believed that some opportunities come once in a lifetime.
He says he invested €5,000 (about Sh670,000) while starting the company with support from his older brother and parents.
“The company is actually doing very well. We have raised more than a billion euros so far and again as I mentioned we are one of the largest technological firms in the world today.”
In Kenya, the firm has employed about 100 individuals and has over 50,000 drivers and couriers.
“In Kenya specifically, our office has about 100 people, and it actually serves as our Africa regional HQ. Most of our senior regional managers who run the business for African countries are based here in Nairobi,” he adds.
“On the platform, we have more than 50,000 people that are drivers for our ride hailing products, and then on the food delivery side, restaurants and couriers.”
In a market dominated by large players such as Uber and Glovo, among others, his company stands out for being low-cost, high-quality, and with fast services.
While on his Africa trip, Villig announced that Bolt will invest Sh66.9 billion (€500 million) in Kenya and the rest of Africa for its operations over the next two years.
The funds will be used to expand Bolt services in Africa, creating opportunities for over 300,000 new drivers and couriers in 2023.
“At a time when many countries are facing economic challenges, we will continue to grow our presence in Africa through this new investment which offers massive potential to create new jobs and income opportunities for drivers and couriers.”
