Uber's Estonian competitor, ride-sharing service Bolt, launched on Tuesday in London, according to a statement on Bolt's blog page.

Despite strict regulations in London's taxi market, Estonian Uber challenger Bolt has chosen to roll out in the British capital, which means that Bolt is now present in 30 countries, 100 cities and has 25 million customers. The company's valuation is estimated at over $1 billion, according to CNBC.

”"One (competing Uber, editor's note) ride-sharing service takes a 25 percent commission. Another (Bolt, editor's note) takes 15 percent," Bolt writes.

The company was previously known as Taxify and has been Uber's main European competitor. 

”"London is one of the largest and most profitable markets for Uber globally and there has been no serious competitor here," CEO Marcus Cillig told CNBC.

According to the company, 20,000 of the city's 88,000 registered ride-sharing drivers have signed up for Bolt, according to the British Department for Transport.

Previously, Bolt's market has been particularly focused on developing markets such as Eastern Europe and Africa.

Source:nyhetsbyråndirekt.se