“We are profitable on every trip in Portugal”, says Bolt’s founder

In the summer of 2013, Markus Villig was 19 and founded what is today Bolt, one of Uber’s main competitors in the European and African markets. Today, at 25, he does not hide that there are similarities between the two companies, but suggests that Bolt’s success comes from a “cost efficiency” that Uber does not have. At the end of the day, he says, the commissions charged to drivers and the fares paid by passengers are lower.

In an interview with ECO on his visit to Web Summit, the young Estonian entrepreneur promises to bring Bolt’s electric scooters to Portugal and makes no secret that the service could even end up free, as long as the company is able to make a profit from the ride-hailing business. As for the regulation recently created in Portugal, he considers it “innovative” and “open”.