Estonian startup Bolt said on Tuesday it had raised 628 million euros ($711.40 million) from investors led by Sequoia Capital and Fidelity Management and Research Co, taking its valuation to 7.4 billion euros

Bolt, a rival of Uber’s ride-sharing and food delivery business, last raised funding in August at a valuation of more than 4 billion euros.($8.38 billion).

While Uber is the biggest rival for ride-hailing, Bolt faces competitors in food delivery including Just Eat and DoorDash, which entered Europe via a $8 billion purchase of Wolt.

Read more/Source: Reuters