Checkout technology company Bolt continues to make quick work of attracting new capital. The company announced Friday $355 million in Series E financing to give Bolt an $11 billion valuation, according to sources close to the company. Bolt’s one-click checkout product aims to give businesses the same technology Amazon has been known for since 1997, and at the same time, incorporates payments and fraud services meant to ensure transactions are real and payments can be accepted. In addition, shoppers can create an account once and then use those credentials across a network of hundreds of Bolt network brands.
This newest raise comes just three months after Bolt took in a sizable $393 million in Series D funding. Including the Series E, Bolt’s total funding to date is nearly $1 billion. The company’s valuation is nearly double what it was at the Series D, Ryan Breslow, founder and CEO, told TechCrunch. In discussing Bolt’s rise to total funding near the $1 billion mark, Breslow explained that the company operates in a space with competitors that are actually worth hundreds of billions of dollars. Depending on the source, that’s companies like Stripe, Shopify and Checkout.com.
Two months later, he says the integration of Bolt’s native checkout and shopper experience with Tipser’s embedded commerce technology continues and that, together, they are already signing up some big customers. Meanwhile, funds and accounts managed by BlackRock led the Series E investment, with new investors Schonfeld, Invus Opportunities, CreditEase and H.I.G. Growth joining existing investors Activant Capital and Moore Strategic Ventures.
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