Bolt, a competitor of Uber (UBER.US), has hired advisors for a potential IPO.

Uber's rival Bolt Technology OU is exploring options including an initial public offering, according to sources familiar with the matter, and is working with advisers at PJT Partners. The company may seek a listing as early as next year, the sources said. Bolt is still discussing the benefits of going public in Europe or the U.S., and may also seek other ways to raise money, the sources said. The discussions are still in the early stages and plans could change, the sources said.

"As with any company considering a listing, we have consulted with professional advisers in many areas to seek their help," a Bolt spokesperson said in an email. "We will continue to evaluate some potential listing locations." The IPO date will depend on market conditions, the spokesperson said.

Bolt, which offers ride-hailing, food delivery and e-scooter rental services, secured a 220 million euro ($231 million) credit line last year to help it "prepare for an IPO," Chief Executive Markus Villig said. The company was valued at 7.4 billion euros in a 2022 funding round, after raising 628 million euros from Sequoia Capital, Fidelity Management and other investors.

Bolt has been competing with Uber in Europe, Africa, Asia and Latin America. In recent months, it has also moved into North America under the app "Hopp."

Bolt's IPO plans align with other European tech startups considering going public. Klarna Group Plc, a Swedish fintech company, is reportedly planning to go public as early as the first half of 2025 in New York.