Taxify, the on-demand digitised transportation platform which has gone worldwide after its birth in Estonia, has rebranded with a name change.

According to the company, the brand will now be known as Bolt, “in order to reflect its global expansion strategy”.

The company said it took the decision to expand its services, which include providing multiple transportation options beyond private cars.

It has been using the name Bolt for its new electric scooter service

Speaking on the new development, Markus Villig, Bolt co-founder and chief executive, said: “Taxify launched five years ago with a mission to make urban transportation more convenient and affordable. Our first product was a taxi dispatch solution that gave the company its original name.”

He further explained that Bolt represents the company’s goal of solving urban transportation problems beyond sharing taxis to motorbikes and scooter sharing.

“The rebrand from Taxify to Bolt is serving a few purposes. Tapping the basic meanings of bolt, the new name implies speed, as well as electricity,” Villing said.

“We are bullish that the future is fully electric and so we wanted a name that moved us away from the combustion engine.”

Bolt Nigeria (Taxify) also confirmed the news on Twitter.

“With our entry into Nigeria over 2 years ago, we had one goal – build the best way to move in all the cities we operate,” it wrote.

“We have grown in leaps and bounds over the years and are now aiming to solve transportation needs on a broader scale.”

Because of this, we are rebranding to take on a new name, one which encompasses our future. Our new name Bolt, stands for fast, effortless movement- exactly what you deserve.”

Uche Okafor, Regional General Manager (West Africa) at Bolt told Business Insider Sub-Saharan Africa by Pulse on Thursday that the global rebrand embodies its mission to build the best way to more in cities.

“Bolt is a name that fits this ambition. Specific to Africa (Nigeria), we have plans to launch new cities across Africa and in Nigeria during the course of 2019 and are also looking to expand our product line.”

He declined to disclose further details about the expansion and new product line

“While we’ve made progress on our mission, we’ve also started to outgrow parts of our brand, including the name. Given our ambition to solve transportation problems on an increasingly broader scale, we want the brand to reflect the company’s future rather than the past. Our new identity also underscores our belief that the future of transportation will be electric”, Regional Manager for West Africa at Bolt, Okafor, explained.

While the new brand will be gradually rolled out across Bolt’s global markets over the following weeks, users have been informed not to take any action as the app will update automatically.

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