Bolt’s Fleet Partner MyNextCar Raises $10M to Scale Affordable Ride-Hailing in South Africa
- MyNextCar secured $10 million in its first institutional funding round.
- The funding round was led by Emso Asset Management with support from Bolt, Assemble Capital, and E2 Investments.
- MNC plans to deploy 1,500 new vehicles under the Bolt Lite initiative.
The funding secured by MyNextCar represents a significant opportunity to reshape the ride-hailing landscape in South Africa, particularly in addressing youth unemployment and promoting financial inclusion. However, the ongoing challenges from traditional taxi operators highlight the need for strategic navigation of regulatory and competitive pressures to ensure sustainable growth.
