Bolt, a startup that offers online checkout technology to retailers, announced that it has added $75 million to its Series C round, bringing the financing to a total of $125 million.
WestCap and General Atlantic led the new tranche, which Bolt CEO Ryan Breslow told TechCrunch was raised at around twice its Series C valuation. PitchBook pegs the company’s Series C at a post-money valuation of $500 million, implying that the Series C1 values Bolt at around $1 billion.
The company is calling the latest check its “Series C1.” Why not just call it a Series D? According to Breslow, Bolt’s future Series D will be much larger.
While Bolt’s creatively demarcated Series C1 is interesting, the capital event is in line with how the checkout space is growing in aggregate right now. There’s a lot of money being put to work on solving a particular e-commerce pain point.
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