Bolt Financial Inc. (Bolt) is an American

financial technology Financial technology (abbreviated as fintech) refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, ...

company that provides merchants with software to facilitate one-click online checkouts. It was founded in 2014 in

San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

History

Bolt was founded by

Stanford University Leland Stanford Junior University, commonly referred to as Stanford University, is a Private university, private research university in Stanford, California, United States. It was founded in 1885 by railroad magnate Leland Stanford (the eighth ...

computer science students

Ryan Breslow Ryan Breslow (born May 20, 1994) is an American entrepreneur and investor. He is the co-founder and chairman of Bolt, a one-click checkout technology company; a co-founder of Eco, a digital cryptocurrency platform; a co-founder of Love, a crypto ...

and Eric Feldman in 2014. Their goal was to simplify online checkout for consumers and help independent retailers compete with

Amazon Amazon most often refers to: * Amazon River, in South America * Amazon rainforest, a rainforest covering most of the Amazon basin * Amazon (company), an American multinational technology company * Amazons, a tribe of female warriors in Greek myth ...

, which held the patent on one-click checkout until 2017. The company initially operated out of Breslow's dorm room. In 2021, the company entered into partnerships with its first European clients and acquired Tipser, a technology company based in

Sweden Sweden, formally the Kingdom of Sweden, is a Nordic countries, Nordic country located on the Scandinavian Peninsula in Northern Europe. It borders Norway to the west and north, and Finland to the east. At , Sweden is the largest Nordic count ...

. In December 2021, it raised $393 million, bringing Bolt's total funding to almost $1 billion. Its valuation was $11bn as of January 2022. In February 2022, Maju Kuruvilla was named CEO. In February 2024, Bolt had under 700 employees, and was valued at approximately $300 million - a 97% decrease in price from 21 months prior. Bolt announced in August 2024 that it was seeking a $450 million investment, raising capital from its lead investor The London Fund. Instead of cash, the fundraising partly involved The London Fund pledging up to $250m in influencer marketing credits. However, a publication by

Axios Axios commonly refers to: * Axios (river), a river that runs through Greece and North Macedonia * ''Axios'' (website), an American news and information website Axios may also refer to: Brands and enterprises * Axios, a brand of suspension produ ...

revealed that, out of the twenty active portfolio companies listed on The London Fund website, none of the fund's portfolio companies had "never heard of The London Fund".

References

{{reflist, 30em

External links

Official site
American companies established in 2014 Companies based in San Francisco Financial services companies based in California Financial services companies established in 2014