The Digital Horizon Venture Fund and members of the Digital Horizon Select Club joined the list of capital investors in the Bolt checkout service. The company raised $393 million. Now, the list of investors also includes Willoughby Capital, Soma Capital, General Atlantic, Tribe Capital, Activant Capital, and Moore Strategic Venture.
Bolt facilitates one-click checkout with thousands of online retailers. This universal checkout service requires a one-time registration, and following this, the user will be authorized in partner stores automatically. The service currently has more than 10 million users.
Bolt’s earnings are made through commissions for payments processed on the platform. The business operations will continue to grow rapidly: the company started working with several major partners this year.
According to Bloomberg, after Series D funding, the company was valued at $6 billion.
Alan Vaksman, founder and managing partner of Digital Horizon:
"Payments and transaction processing are a sector where many companies can become multi-billion dollar businesses like Stripe ($120 billion), PayPal ($320 billion), Square ($120 billion), and still continue to grow by 50% annually. Bolt has everything it needs to join the leaders. According to the Bolt team’s forecast, by the end of 2021, 11% of US shoppers will join their platform, and by 2025, 8 out of 10 Americans will interact with their checkout service to make purchases".