Ryan Breslow, the co-founder and CEO of Bolt, is spearheading a bridge funding round of up to $27 million to sustain the checkout processing startup. The capital is being raised from existing investors in the form of a convertible note, which includes a “pay-to-play” provision that penalizes non-participating backers with a significant dilution of their equity. Breslow asserts that this financing will enable Bolt to capitalize on recent operational milestones, settle legacy obligations, and facilitate a smooth transition as the company progresses toward a future Series E2 funding round.

Breslow, who returned as CEO in 2025 after a period of legal disputes and investor conflicts, remains steadfast in his belief that Bolt can be salvaged and restored to its former prominence. He personally committed $5 million to the round and anticipates that participation from Bolt’s approximately 100 investors will total at least $15 million, although not all are expected to contribute. The entrepreneur attributes the company’s decline during his absence from 2022 to 2025 to customer loss and emphasizes that AI is now allowing Bolt to operate with greater efficiency, claiming the company can achieve ten times more output and faster shipping speeds.

The new financing effort follows a failed $450 million round in 2023, which collapsed amid legal challenges from investors, including BlackRock and Hedosophia. Breslow contends that the current fundraise has garnered support from Bolt’s board and a majority of preferred shareholders. He envisions Bolt evolving into a “super app” that integrates financial services, peer-to-peer payments, cryptocurrency, and credit cards into a single-click checkout solution, positioning the company as a potential “Lyft to Stripe’s Uber.” Despite offers to start a new venture, Breslow remains committed to turning around Bolt, citing the company’s unique moat as a compelling reason to persevere. Source

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