London (CNN Business) Uber is facing a new competitor on the roads of London.

A ride-hailing startup called Bolt launched Tuesday in the British capital after receiving an operating license from Transport for London.

It's the second time that Bolt, which used to be called Taxify, has tried to go head-to-head with Uber in London. A previous attempt failed in 2017 when transportation regulators declined to give the startup a license.

Uber UBER London is a big prize. It's one of five global cities that account for nearly a quarter of Uber's bookings , according to its prospectus from April currently has a stranglehold on the market.

Bolt CEO Markus Villiq said in a statement on Tuesday that his company will give Londoners an alternative to the American company.

Bolt is once again targeting Lonond.

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