Bolt, the checkout and payments startup co-founded by Ryan Breslow, is preparing a new financing move that could bring in as much as $27 million in bridge capital. The round is designed to support the company until a larger future raise is completed.
The funding is being offered to existing investors through a convertible note, which would later convert into equity at a discount. It also includes a pay-to-play structure, meaning investors who do not join the round could face a sharp reduction in their ownership stake.
Breslow says the company is working to strengthen operations, address older obligations, and move toward its planned Series E2 round. He also said Bolt is approaching profitability and seeing signs of renewed growth after a long period of pressure.
To signal confidence, Breslow plans to invest $5 million of his own money. He expects participation from Bolt's investor base to reach at least $15 million, though not every backer is likely to join.
Bolt was valued at $11 billion in early 2022 before its valuation fell sharply. Since then, the company has shifted toward a new super app strategy that combines payments, financial tools, crypto features, and one-click checkout. Breslow says artificial intelligence is also helping the leaner team work faster and more efficiently.
With a smaller workforce and a renewed fundraising effort, Bolt is trying to turn a difficult chapter into a fresh start. If successful, the company could become a notable example of how focused product evolution and disciplined capital can reshape a tech platform's future.
