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International Internet Magazine. Baltic States news & analytics Wednesday, 27.05.2020, 11:09

Bolt winds up business in Finland

BC, Tallinn, 14.01.2020.Print version
Citing too strict regulations from the state, Bolt has discontinued its business in Finland for the second time in just a few years, according to the Postimees information referre LETA/BNS.

"We've decided to discontinue activity in Finland from January 12. The reason is currently valid market regulation and conditions which limit our growth opportunities," Bolt spokesman Jaan Lasmanov told Postimees. 

According to Lasmanov, Bolt wishes to invest only in places where it can offer the best possible service to users. The company is prepared to return to the Finnish market when the market situation changes. 

Bolt -- then called Taxify -- entered the Finnish market for the first time in November 2014 but left at the beginning of 2017, citing absence of open competition on that market and restrictions on the issuance of taxi permits. 

Both Taxify and its competitor Uber relaunched their service in Finland in fall 2018 after amendments opening the market to new transport opportunities adopted by the parliament in the summer of that year stepped into force. 

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