Funding round
Bolt Series C
Bolt, which works in digital financial services in San Francisco, raised $50M in a Series C round announced on 16 Jul 2020, led by WestCap. 5 firms took part, 5 of them already investors. It is Bolt's second venture round on record; the one before was a Series B in Jul 2019.
$50M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Bolt did not disclose a valuation in this round. It came 12 months after Bolt's Series B. It is 5.6% of the $893M Bolt has raised in the venture rounds on record. Bolt raised again 15 months later: a Series D round of $393M in Oct 2021, at $6.00B post-money.
Bolt's funding rounds
Bolt has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
WestCap led the round with 4 other firms. WestCap, Activant, Tribe Capital and Glynn Capital and 1 more had backed Bolt before.
Lead investor
- WestCap backs 36 venture-backed companies existing investor
Also in the round
- backs 48 venture-backed companies existing investor
- Tribe Capital existing investor
- backs 44 venture-backed companies existing investor
- backs 55 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
25 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $75M, and this round was 67% of the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 13 Aug 2020 | $100M | $500M | Eldridge Industries and Eldridge |
| Payment Processing & Point of Sale | 10 Jun 2020 | $24M | not disclosed | Elaia and Bpifrance’s Large Venture fund |
| Neon Payment Processing & Point of Sale | 2 Sep 2020 | $300M | not disclosed | General Atlantic |
| Greenlight Payment Processing & Point of Sale | 1 Sep 2020 | $215M | $1.20B | Canapi Ventures and TTV Capital |
| SpotOn Payment Processing & Point of Sale | 23 Sep 2020 | $60M | not disclosed | DST Global |
| Payment Processing & Point of Sale | 16 Sep 2020 | $31M | not disclosed | Truist Ventures |
| Payment Processing & Point of Sale | 21 Sep 2020 | $25M | not disclosed | not named |
| Satispay Payment Processing & Point of Sale | 20 Nov 2020 | $110M | not disclosed | Square and Tencent |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Bolt raise in its Series C round?
Bolt raised $50M in its Series C round, announced in Jul 2020.
Who led Bolt's Series C round?
WestCap led it, with Activant, Tribe Capital, Glynn Capital and Human Capital.
What was Bolt's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
25 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $75M, and this round was 67% of the median.
Did Bolt raise again after this round?
Yes: a Series D round in Oct 2021 of $393M at $6.00B post-money.