Checkout technology platform Bolt has raised $50mn in a series C funding round; the Series C financing was led by Laurence Tosi at WestCap and included participation from existing investors Activant Capital, Tribe Capital, Glynn Capital, and Human Capital; while they did not reveal the valuation the company did say it was a material up round from their previous raise last year; the company is looking to help retailers move online as the pandemic wreaks havoc on brick and mortar shops; Bolt’s cloud-based platform combines checkout, payments, and fraud protection in one product to allow retailers to better compete against the likes of Amazon; “People have more options than ever before when shopping online, and retailers must provide the best experience or customers will move on,” said Laurence Tosi, Former CFO at Airbnb and Founder of Westcap, to Forbes. “And the stakes are especially high right now. Businesses across the globe have no choice but to transition to digital, and I am confident that this injection of new will capital accelerate Bolt towards its goal of empowering the majority of independent e-commerce by 2025.” Forbes.
