Bolt raises up to $27M bridge round as CEO Breslow pledges $5M
What's the deal? One-click checkout startup Bolt is raising up to $27 million in bridge financing from existing investors, TechCrunchDealroom has a profile for this one. Try Dealroom → reports. Chief executive officer Ryan BreslowDealroom has a profile for this one. Try Dealroom → plans to personally put in $5 million.
How it's structured: The money comes as a convertible loan that will convert to shares at a discount after Bolt's next round. A pay-to-play provision means investors who sit out will lose a significant portion of their stake.
Where the money goes: Bolt said the funds will help it capitalise on recent operational results, settle longstanding obligations, and bridge toward closing a full Series E2 round. Breslow declined to specify what those obligations are.
He estimated that participation from nearly 100 investors could yield at least $15 million, though not all plan to join. Breslow did not disclose the company's remaining cash but said Bolt is nearing profitability after years of declining revenue.
Why now? Bolt was valued at $11 billion in early 2022, then saw that figure fall 97% to $300 million. Breslow returned as CEO in March 2025, three years after leaving.
Two years ago, Bolt tried to raise $450 million at a $14 billion valuation. The deal collapsed after existing investors, including BlackRock and HedosophiaDealroom has a profile for this one. Try Dealroom →, sued to block it, following reports that a named lead investor denied involvement and another offered $250 million in marketing credits instead of cash. All parties later withdrew the suit.
The workforce: Bolt has cut staff from about 900 employees in 2021 to around 60 — a reduction of roughly 93%. Breslow said artificial intelligence lets the company operate far more efficiently.
The new financing was approved by the board and a majority of Bolt's preferred shareholders, according to Breslow.
The signal: At $27 million, the round sits in the 95th percentile by size among US fintech convertible rounds. But its terms — a discounted convertible with a pay-to-play clause and insider-only participation — read less like a growth bet and more like a lifeline to steady a company still climbing back from a steep fall.
Read more: ua.news
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