Bolt Raises $75M Series C1 To Advance One-Click Online Buying
Bolt, which is developing a one-click checkout experience platform, brought in $75 million in additional funds for its Series C to give it a total round of $135 million.
San Francisco-based Bolt, founded in 2014, gives retailers and consumers more choice, control and flexibility over their transactions by managing the back-end of the checkout—presenting payment options, securely processing payments, and mitigating fraud—while providing a seamless front-end experience.
The latest funding is co-led by Westcap, which also led Bolt’s $50 million round in July, and General Atlantic. They were joined by existing investors Activant Capital and Tribe Capital, as well as a group of angel investors. To date, Bolt has raised a total of $215 million, according to Crunchbase data.
“We are investing a ton into the platform and in product engineering as we see so much reception of our product with enterprise clients,” Ryan Breslow, founder and CEO of Bolt said in an interview. “Our focus back in July was working in a transitional market, but now we are building enterprise retailers into our one-click network and expanding rapidly.”
In July, when the company raised the initial Series C, Bolt One Click was just getting off the ground, and now it is in full swing, Breslow said. Bolt processed more than $1 billion in retail transactions this year and saw a 10 times increase to its shopper network.
Last month, Bolt announced a strategic partnership with brand management company Authentic Brands Group to provide its checkout experience to its group of retailers, including Forever21, Lucky Brand and Brooks Brothers.
Keep reading the original post from Crunchbase.
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