TechCrunch

Bolt, a startup that offers online checkout technology to retailers, announced that it has added $75 million to its Series C round, bringing the financing to a total of $125 million.

WestCap and General Atlantic led the new tranche, which Bolt CEO Ryan Breslow told TechCrunch was raised at around twice its Series C valuation. PitchBook pegs the company’s Series C at a post-money valuation of $500 million, implying that the Series C1 values Bolt at around $1 billion.

The company is calling the latest check its “Series C1.” Why not just call it a Series D? According to Breslow, Bolt’s future Series D will be much larger.

While Bolt’s creatively demarcated Series C1 is interesting, the capital event is in line with how the checkout space is growing in aggregate right now. There’s a lot of money being put to work on solving a particular e-commerce pain point.

Source

Looking for weekly M&A news updates?

TransactionWatch is a weekly newsletter covering the most important and relevant merchant acquiring M&A activity. This first-of-its-kind newsletter was developed for the world’s cutting-edge payments executives. See an example edition.

How Do I Sign Up?Click here to visit the TransactionWatch landing page and complete the subscription form. You will receive a confirmation email and begin to receive TransactionWatch every Friday.

The post Bolt adds $75M to its Series C, as the battle to rule online checkout continues appeared first on The Strawhecker Group.

Leave a Reply

Your email address will not be published.