E-commerce checkout fintech Bolt has raised $355 million in the first part of a Series E funding round.
Bolt’s total funding now stands at almost $1bn
Bolt is now worth 30 times more than it did 30 months ago and nearly double what it was worth only three months ago.
The round, led by BlackRock, saw participation from new investors Schonfeld, Invus Opportunities, H.I.G. Growth and CE Innovation Capital as well as existing investors Activant Capital and Moore Strategic Ventures.
The cash will go towards product development, expanding product and engineering teams, corporate investments, building new partnerships and launching Bolt in more international markets.
The latest round comes three months after a $393 million Series D round and Bolt’s total funding to date now stands at nearly $1 billion.
Bolt says it is on a mission to “democratise commerce for retailers” in a world that saw e-commerce advance ten years in the first three months of the pandemic.
The company’s one-click checkout platform has built in fraud protection and users can sign in and save their details across different online retailers.
Bolt claims that retailers on its platform see a 50% higher conversion rate, a 38% faster checkout time and a 66% higher repeat purchase rate.
