Estonian mobilitystartupBolt has secured a 220mn credit facility as it plans to go public next year.
Kind of like a credit card for companies.
Lenders include Barclays, Deutsche Bank, Goldman Sachs, and JPMorgan.
The money supplements Bolts strong cash position and strengthens its liquidity profile, the company said.
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Last year, the startup starteddelivering groceries using autonomous robotsin its hometown of Tallinn.
The company is now worth upwards of 7bn.
It claims to have signed up over 3 million drivers and counts 150 million customers across 45 countries.
Part of Bolts success is that its fares are generally cheaper than those of rivalUber.
Nevertheless, the US giant accounts for 25% of all ride-hailing and taxi rides worldwide.
Bolts share isestimatedat about 5%.
An IPO could give Bolt the cash injection it needs to snatch back some customers from the competition.
Story bySion Geschwindt
Sion is a freelance science and technology reporter, specialising in climate and energy.
