Success Story

Bolt’s Rapid Growth Requires Scalability

“We selected Kyriba thanks to the track record they have working with fast growing tech companies that made it a safe bet. We’re implementing an advanced treasury system that can handle all our requirements in a scalable way, regardless of how quickly we grow.”

Mahmoud Iskandarani, Director, Group Treasury, Bolt — Building the Future of Mobility

The Challenge:

  • Scalability: Ranked one of the fastest growing companies in Europe, Bolt needed a scalable treasury driven by technology to support the acceleration of the company.
  • Mitigate Financial Risk: Reaching unicorn status in just 5 years, proper treasury management was required to mitigate financial risks and create an efficient working capital management.
  • Strategic Decisioning: Needed a system to navigate and act on the opportunities arising from the current macro environment.

The Solution:

With Kyriba’s Open Format Studio, Bolt can manage the payment format process themselves to integrate new payments as expansion continues, along with:

  • End-to-end FX management
  • Connectivity to Bolt’s Bank via API
  • Integration across Bolt’s internal systems – including Workday
  • Managing intercompany lending

Positive business outcomes expected from this project:

  • Efficiency equivalent to 2 Full Time Employees.
  • Hard and Soft cost savings of millions of Euros per year due to financial risks mitigation, automated FX, improved yields on cash, and efficient working capital management.

“Kyriba’s forecasting module, their APIs and connections, as well as their partnerships will make all this possible and smoother!”

About Bolt

The 1st European mobility super-app, fighting for better cities and against private cars, offering a better alternative to private car ownership with flexible urban mobility – including ride-hailing, shared cars and scooters, and food and grocery delivery.