Bolt raised $355 million in a late-stage funding round

Bolt raised $355 million in a late-stage investment round led by fund manager BlackRock, valuing the company at $11 billion.

Schonfeld, Invus Opportunities, H.I.G. Growth, and CE Innovation Capital also participated in the Series E funding round, in addition to existing backers Activant Capital and Moore Strategic Ventures.

The company, which was launched in 2014, provides a checkout service to shops and customers to ensure that payments for its items are secure and easy.

On its checkout platform, which is utilized by customers such as Forever 21, Juicy Couture, and Lucky Brand, Bolt also offers fraud protection and merchant analytics solutions.

Bolt raised $393 million in new capital last year from General Atlantic, Untitled Investments, Willoughby Capital, and Soma Capital, among others.

The new funding takes the company’s total capital raised to approximately $1 billion.

Bolt stated that it expects to use the funding for product development, personnel hiring, and international expansion.

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