Checkout and shopper network platform Bolt has secured $355m in funding in the first part of its Series E financing round.
The round was led by BlackRock and saw participation from Schonfeld, Invus Opportunities, CE Innovation Capital, H.I.G Growth, Moore Strategic Ventures and Activant Capital. Following this round, Bolt has almost reached unicorn status of a $1bn valuation.
Bolt noted it had recorded a strong 2021, expanding into Europe and helped launch new customers such as Benefit Cosmetics, who Bolt claims has seen significant gains in conversion across their websites. The firm also formed new strategic partnerships with firms like Adobe and Prestashop, as well as acquiring Tipser, a startup that enables shopping on any digital surface.
Schonfeld global head of equity capital markets Michael Kuchmek said, ““We couldn’t be more excited to join Bolt on its journey to revolutionize online shopping, one checkout at a time. Through getting to know its management team, product innovation, marquee retailers, and remarkable partnerships struck, we have full confidence in Bolt’s ability to further simplify and democratize the checkout experience, helping both merchants and shoppers along the way.”
Invus Opportunities partner Ben Tsai added, “There is a huge opportunity to improve the online checkout experience, and retailers are realizing that they are losing customers as a result. Bolt has a growing network of tens of millions of shoppers who benefit from the ease of one-click checkout across Bolt’s expanding network of retailers. We’re pleased to support Ryan and the ambitious Bolt team and see tremendous opportunity in the space that Bolt is disrupting.”
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