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Bolt service, as reported on its website, allows you to issue and pay for online orders in one click on thousands of sites. It is enough for the buyer to register once in this universal check-out service, and in the future authorization in partner stores will occur automatically. By mid-October 2021, more than 10 million users use the platform. Bolt operates in the United States and Canada. The platform collaborates with Forever 21, Badgley Mischka and other stores.
Performance indicators
2021
According to October 2021, more than 10 million users use the service. The platform plans to increase their number to 100 million in the next 1.5 years.
In 2021, relative to 2020, the company showed rapid growth: the gross value of goods per seller increased by 80%, the number of accounts - by 180%, and the number of transactions - by 200%
History
2022
Acquisition of Wyre cryptocurrency startup for $1.5 billion
In early April 2022, Bolt Financial, which specializes in payment financial technologies, announced the purchase of Wyre, a cryptocurrency startup. The transaction amount will be about $1.5 billion. According to the research company Dealogic, this takeover was the largest transaction in the history of the crypto industry, which took place without the participation of a specialized company for targeted mergers and acquisitions. More details here.
Raising 355 million, including from Digital Horizon
In mid-January 2022, Bolt announced the raising of $355 million as part of the Series E financing round, in which the Digital Horizon fund took part (one of its founders is Oleg Waxman, former deputy chairman of the board of Gazpromb).
The lead investor was BlackRock, Schonfeld, Invus Opportunities, H.I.G. also participated in the investment transaction. Growth, CE Innovation Capital, Activant Capital и Moore Strategic Ventures.
The startup plans to spend the funds received, including on expanding the range of consumer goods, which should help customers make purchases more efficiently through Bolt, TechCrunch notes.
 | We believe in the future of open - decentralized - systems that allow independent players to grow. This is only possible if customers gain experience when buying, comparable to what ecosystem big players give them. Bolt is an example of a tool that allows online retailers, without significant development investment, to improve metrics and grow businesses, "said Alan Waxman, founder and managing partner of Digital Horizon. |  |
According to the results of the Bolt financing round in January 2022, the company's valuation (TechCrunch writes about $11 billion) was about 30 times higher than the one that was 30 months earlier, and also almost twice the value three months earlier. The total volume of investments attracted by the startup amounted to almost $1 billion.[1]
2021: Raising $393 million, estimated at $6 billion
In mid-October 2021, it became known that a fund with Russian roots Digital Horizon invested American in a service to pay for Bolt online orders in a $393 million round. According to the results of this investment transaction startup , it was estimated at $6 billion against $850 million in December 2020, the agency reports. Bloomberg
According to Bolt, thanks to the service that the startup develops, retailers can more actively compete with the largest marketplaces in terms of the quality of user experience. Convenient checkout service speeds up the ordering of goods on the site, reduces the number of abandoned "baskets" and raises store conversion by 30-40%. Bolt earns fees from payments that go through the platform.
| | Payments and processing are a sector where many companies can become multibillion-dollar businesses, like Stripe ($120 billion), PayPal ($320 billion), Square ($120 billion), and at the same time continue to grow by 50% annually. Bolt has everything to join the leaders, "said Alan Waxman, founder and managing partner of Digital Horizon. | |
He gives Bolt's forecast that by the end of 2021 year their users will be 11% buyers in the United States, by 2025 year checkout will interact with 8 of the 10 Americans making purchases.
By mid-October 2021, Bolt has attracted a total of $503.4 million in investments since its inception in 2014.[2]
Notes
- ↑ Bolt Raises $355 Million in Series E Funding With Funds & Accounts Managed by BlackRock, As Well as Schonfeld, H.I.G. Growth, and Invus Opportunities -- Powering the Next Phase of Growth in the Commerce Race
- ↑ Bolt announces $393 million in new funding to fuel commerce’s first federated checkout network
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