Online shopping fintech Bolt is sitting on nearly $1 billion of funding after securing $355 million in the first part of its series E round.
Lead investors in the fintech’s latest funding round include funds and accounts managed by BlackRock, with participation from Schonfeld, Invus Opportunities, H.I.G. Growth, and CE Innovation Capital.
Bolt says the new capital will fund an acceleration in product development, the recruitment of product and engineering talent, and a ramping up of strategic investments, among other initiatives.
It follows a year of “stellar momentum” at the fintech, when Bolt saw gross merchandise value per merchant grow by 80%, its number of accounts by 180%, and its transactions by 200%.
Bolt works with a network of retailers, primarily in the US, to deliver a one-click-checkout experience for online shoppers.
The fintech has expanded into Europe and made acquisitions, including Sweden-based Tipser, a startup that enables shopping on any digital surface.
“Since Bolt’s founding, we’ve relentlessly focused on improving the online purchasing experience,” says Ryan Breslow, founder and chief executive officer of Bolt. “We’re very proud to partner with this prestigious group of investors…”