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FT Partners Advises Bolt on its $393,000,000 Growth Financing

Overview of Transaction

  • On October 12, 2021, Bolt announced it has raised $333 million in Series D funding and ~$60 million in follow-on capital led by a London-based growth venture capital firm, for a total amount of ~$393 million
  • New financial investors participating in the round include Untitled Investments and Willoughby Capital, and existing investors include General Atlantic, Activant, and Tribe Capital
  • New strategic investors include some of the largest eCommerce and Payments companies in the world
  • Bolt strengthens retailers' relationships with their customers by unlocking secure, logged-in, lightning-fast checkouts
  • The Company's rapidly-growing network of one-click-checkout-ready shoppers visits Bolt merchants as if they are return customers.
  • Hundreds of retailers — including Forever 21, Badgley Mischka, and Burt’s Bees Baby — leverage Bolt to offer their shoppers the seamless checkout experiences they've come to expect

Significance of Transaction

  • Bolt has increased its valuation by ~18x from ~18 months ago
  • The oversubscribed financing validates the massive potential of a network that has grown to more ten million shoppers, with an additional 50 million shoppers queued up to be added based on existing commitments and partnerships
  • This additional capital will enable Bolt to accelerate the pace of its product innovation, to continue recruiting top talent with a specific focus on scaling its product and engineering organizations, to onboard more customers, and to expand its operations into Europe

FT Partners' Role

  • FT Partners served as exclusive financial and strategic advisor to Bolt
  • This transaction underscores FT Partners' deep payments and e-commerce domain expertise and successful track record of driving optimal outcomes for high growth FinTech companies globally

Source: Company press release