HomeBusinessOnline checkout firm Bolt valued at $11 billion after BlackRock-led funding- source

Online checkout firm Bolt valued at $11 billion after BlackRock-led funding- source

Online checkout platform Bolt raised $355 million in a late-stage funding spherical led by fund supervisor BlackRock Inc at a valuation of $11 billion, in line with folks acquainted with the matter.

Other buyers who participated within the sequence E funding spherical embody Schonfeld, Invus Opportunities, H.I.G. Growth and CE Innovation Capital, together with current buyers Activant Capital and Moore Strategic Ventures.

San Francisco-based Bolt stated on Friday it intends to make use of the capital for product growth, rent workers and increase into new worldwide markets.

The firm, based in 2014, gives a checkout service to retailers and buyers to make sure funds on its merchandise are safe and trouble free.

Bolt additionally gives fraud safety and service provider analytics options on its checkout platform that’s utilized by prospects together with attire retailers Forever 21, Juicy Couture and Lucky Brand.

The new funding brings the entire capital raised by the corporate to about $1 billion.

Last yr, Bolt raised $393 million in recent capital from buyers together with General Atlantic, Untitled Investments, Willoughby Capital and Soma Capital.

(Reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguli)

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