Bolt takes on Uber with new corporate product

Estonia-based cab hailing firm Bolt has unveiled a service that enables company employees to take rides at the expense of the employer, as it moves to diversify its product offering to grow its revenue streams.

The product dubbed Bolt for Business is already available in over 25 countries and rivals Uber4Business. It replaces the need for companies to enrol the services of taxi companies.

With the launch of the new product, firms can set their own rules while controlling when and who can take the business trips.

The platform also requires employees to feed the purpose of the trip into the app before it can begin.

“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.”

The launch comes just months after another cab-hailing firm, Mondo Ride, suspended taxi rides for corporate clients amid panic among employees that it was exiting Kenya.