US-based Bolt, a checkout platform that helps businesses grow by offering various services, including seamless payments, fraud detection, financial services, e-commerce, design, and digital infrastructure, raised USD 355 million on 14th January 2022.
Investors: The investment round was led by BlackRock along with new investors Schonfeld, Invus Opportunities, HIG Growth, and CE Innovation Capital. In addition, existing investors include Activant Capital and Moore Strategic Ventures. This round brings the total funding to nearly USD 1 billion.
Purpose of funding: The startup plans on increasing product development and adoption and hiring more engineers and product developers. Further, the startup is preparing to expand internationally and implement more initiatives to promote a more conscious work environment.
About Bolt
Founded in 2014 by Eric Feldman, and Ryan Breslow, Bolt is located in San Francisco, US. Bolt is a checkout experience platform that provides services such as seamless payments, fraud detection, data science, innovation, financial services, e-commerce, design, and digital infrastructure to help businesses grow. Bolt aims to democratize commerce. Retailers can provide their customers with secure, fast, logged-in checkouts using the startup. Briefly, retailers join Bolt Network to expand their business and connect with customers. When shopping online, consumers can find more options than ever before, and retailers can provide their products to customers in a way that’s convenient for them. The startup offers retailers the seamless checkout experiences that their shoppers have come to expect.
Additionally, the startup claims that the company is worth approximately 30 times what it was worth 30 months ago. In partnership with top brands and millions of shoppers, the startup enables one-click checkout for the rest of the internet.
What the founder has to say
“Since Bolt’s founding, we’re relentlessly focused on improving the online purchasing experience,” said Ryan Breslow, co-founder and CEO at Bolt.
“We’re very proud to partner with this prestigious group of investors as we accelerate our product development, hire top product and engineering talent, ramp up our strategic investments, forge more partnerships, expand internationally, and roll out more Conscious Culture initiatives to transform workplaces for the better.”
What the investor has to say
“We couldn’t be more excited to join Bolt on its journey to revolutionize online shopping, one checkout at a time,” said Michael Kuchmek, Global Head of Equity Capital Markets at Schonfeld.
“Through getting to know its management team, product innovation, marquee retailers, and remarkable partnerships struck, we have full confidence in Bolt’s ability to simplify further and democratize the checkout experience, helping both merchants and shoppers along the way.”
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