Bolt, the checkout processing startup, is attempting to raise up to $27 million in bridge funding. This short-term financing is intended to sustain the company until a larger funding round can be secured.
Ryan Breslow, Bolt's CEO, who returned to the role in March 2025, is personally contributing $5 million to the round. The financing is structured as a convertible note, which will convert into equity at a discount in a future funding round. It also features a 'pay-to-play' provision, which could lead to a significant loss of equity for investors who do not participate.
The company, co-founded by Breslow in 2014, saw its valuation drop from $11 billion in early 2022 to $300 million. Breslow claims Bolt is nearing profitability and returning to growth, and states that artificial intelligence (AI) is enabling the company to operate more efficiently, achieving "10 times more done, shipping 10 times faster because of AI."