Bolt, Uber’s European Rival, Takes Aim at North America

Uber and Lyft dominate ride-hailing in North America, a position that has helped them turn cash-burning operations into moneymakers. Now Bolt, an Uber rival in Europe and Africa, is trying to undercut the two ride-hailing companies in their home markets.

Earlier this year, Bolt started offering ride-hailing services in Toronto and scooter rentals in Washington through the Hopp app. Bolt is using the same playbook that it uses for its operations elsewhere. It keeps costs low with a small staff and takes a smaller cut of riders’ fares than Uber and Lyft, said CEO and founder Markus Villig.