Bolt Financial

Last updated
Bolt Financial Inc.
Type Private company
Industry Fintech
FoundedJanuary 2014;9 years ago (2014-01) in San Francisco
FoundersRyan Breslow and Eric Feldman
HeadquartersSan Francisco
Area served
North America, Europe
Key people
Ryan Breslow (Chairman)
Maju Kuruvilla (CEO)
ProductsBolt CheckoutOS
Bolt SSO Commerce
Commerce Everywhere
Number of employees
500+
Website www.bolt.com

Bolt Financial Inc. (Bolt) is an American financial technology start-up that provides merchants with software to facilitate one-click online checkouts. It was founded in 2014 in San Francisco. [1] [2]

Contents

History

Bolt was founded by Stanford University computer science students Ryan Breslow and Eric Feldman in 2014. Their goal was to simplify online checkout for consumers and help independent retailers compete with Amazon, which held the patent on one-click checkout until 2017. [3] The company initially operated out of Breslow's dorm room. [4] [5]

In 2021, the company entered into partnerships with its first European clients [6] and acquired Tipser, a technology company based in Sweden. [7] In December 2021, it raised $393 million, bringing Bolt's lifetime raise to almost $1bn. Its valuation was $11bn as of January 2022. [1] [8]

In February 2022, Bolt CTO and CPO Maju Kuruvilla, previously VP and general manager of worldwide logistics and fulfillment at Amazon, was named CEO. [9]

Related Research Articles

<span class="mw-page-title-main">Index Ventures</span> European worldwide venture capital firm

Index Ventures is a European venture capital firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/AI, and security. Since its founding in 1996, the firm has invested in a number of companies and raised approximately $5.6 billion. Index Venture partners appear frequently on Forbes’ Midas List of the top tech investors in Europe and Israel.

<span class="mw-page-title-main">Insight Partners</span> American investment manager

Insight Partners is a global venture capital and private equity firm that invests in high-growth technology, software, and Internet businesses. The company is headquartered in New York City, with offices in London, Tel Aviv, and Palo Alto.

<span class="mw-page-title-main">Bain Capital Ventures</span> American venture capital division within Bain Capital

Bain Capital Ventures LLC is the venture capital division within Bain Capital, which has approximately $160 billion of assets under management worldwide. The firm's early-stage investments have included Attentive, Bloomreach, Billtrust, Docusign, Flywire, LinkedIn, Justworks, Turbonomic, Rent the Runway, Twilio, Rapid7, and Redis. Bain Capital Ventures manages $10 billion of committed capital, has over 400 active portfolio companies, and has offices in New York City, Palo Alto, and San Francisco.

<span class="mw-page-title-main">Canva</span> Online graphic design platform

Canva is an online graphic design platform that is used to create social media graphics and presentations.

Klarna Bank AB, commonly referred to as Klarna, is a Swedish fintech company that provides online financial services such as payments for online storefronts and direct payments along with post-purchase payments.

Andreessen Horowitz is a private American venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. The company is headquartered in Menlo Park, California. As of April 2023, Andreessen Horowitz ranks first on the list of venture capital firms by assets under management.

<span class="mw-page-title-main">Stripe, Inc.</span> Irish-American payment technology company

Stripe, Inc. is an Irish-American multinational financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.

Fundbox is a working capital platform based in San Francisco that offers credit and payments as a service to small businesses. Founded in 2013, the company innovates technology to help optimize cash flow for small businesses.

BigCommerce is a NASDAQ-listed ecommerce platform that provides software as a service services to retailers. The company's platform includes online store creation, search engine optimization, hosting, and marketing and security from small to Enterprise sized businesses.

Snowflake Inc. is a cloud computing–based data cloud company based in Bozeman, Montana. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode.

<span class="mw-page-title-main">Bolt (company)</span> Peer-to-peer ridesharing, food delivery

Bolt is an Estonian mobility company that offers ride-hailing, micromobility rental, food and grocery delivery, and carsharing services. The company is headquartered in Tallinn and operates in over 500 cities in more than 45 countries in Europe, Africa, Western Asia and Latin America. The company has more than 150 million customers and more than 3 million driver and courier partners. The company has plans for an initial public offering in 2025.

<span class="mw-page-title-main">Podium (company)</span> American software company

Podium is a private technology company headquartered in Lehi, Utah that develops cloud-based software related to messaging, customer feedback, online reviews, selling products, and requesting payments.

Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021.

Founded in 1998, Pine Labs is an Indian company that provides financing and retail transaction technology. It is a unicorn startup, with a valuation of over US$5 billion.

Upgrade, Inc. is an American neobank founded in 2016. It has raised $600 million in equity funding and made over $10 billion in loans since its launch in 2017. Upgrade is headquartered in San Francisco, California with offices in Phoenix, Arizona and Montreal, Quebec, Canada. The company offers credit and banking products to consumers and delivers fixed-rate credit cards and loans. The company's other services include credit monitoring and education tools.

Flutterwave is a Nigerian fintech company that provides a payment infrastructure for global merchants and payment service providers across the continent.

<span class="mw-page-title-main">Guillaume Pousaz</span> Swiss entrepreneur

Guillaume Pousaz is a Dubai-based Swiss-born billionaire entrepreneur, investor, and philanthropist. He is the CEO and founder of payment platform Checkout.com. As of April 2023, he has an estimated net worth of US$7.2 billion according to Forbes magazine.

Checkout.com,, is an international financial technology company that processes payments for other companies. Founded as Opus Payments in 2009, it is headquartered in London, United Kingdom. It had a valuation of $40 billion in 2022, making it the most valuable European fintech startup. Customers include Netflix, Pizza Hut, and digital asset exchange Coinbase.

Ryan Breslow is an American entrepreneur. 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 pharmaceutical startup, and the founder of the dance non-profit, The Movement.

References

  1. 1 2 "Fintech Startup Bolt Sees Valuation Surge to $6 Billion". Bloomberg.com (News). 2021-10-12. Retrieved 2021-10-27.
  2. Bertoni, Steve (April 4, 2022). "Millennial Billionaire Ryan Breslow Created Buzz, And Enemies, Attacking Stripe And Shopify. He's Just Getting Started". Forbes. p. 1. Retrieved August 23, 2022.
  3. Morris, David Z. "Checkout Startup Raises $65 Million to Help Smaller Retailers Take On Amazon". Fortune . Retrieved 2022-10-03.
  4. Pickert, Sophie Alexander and Reade (2019-03-11). "Unicorn factory: The university where dropouts start billion-dollar companies". The Sydney Morning Herald. Retrieved 2022-12-31.
  5. Kauflin, Jeff. "The Future Of Payments: Fintech 50 2021". Forbes. Retrieved 2021-11-19.
  6. Hall, Christine (2022-01-14). "Fresh round of $355M lifts online checkout company Bolt into decacorn territory". TechCrunch. Retrieved 2022-09-15.
  7. Hall, Christine. "Bolt makes first acquisition with Tipser, launches 'Remote Checkout'". TechCrunch. Retrieved 2022-03-24.
  8. "Startup Bolt Nearly Doubles Valuation to $11 Billion". Bloomberg.com (News). 2022-01-14. Retrieved 2022-05-24.
  9. "Meet Maju Kuruvilla, the new Indian-origin CEO of fintech startup Bolt". www.businessinsider.in. Retrieved 2022-12-31.