Bolt seeks up to $27 million in bridge funding after its valuation falls to $300 million

From $11 billion to last-chance financing

Bolt built one-click checkout, seeking to create a consumer payment layer independent of individual stores. Its valuation reached $11 billion in early 2022, followed by investor disputes, leadership changes, falling revenue and an unsuccessful attempt to raise $450 million at a $14 billion valuation. [1 · TechCrunch]

Part of that proposed financing was to consist of marketing benefits rather than cash. Bolt’s valuation later fell to $300 million, about 97% below its peak, while the headcount cited in the report fell from roughly 900 in 2021 to 60. [1 · TechCrunch]

Terms of the new bridge round

The current bridge round of up to $27 million is structured as a convertible note with pay-to-play terms for existing investors. Those who do not participate risk losing a large part of their stake. Ryan Breslow is investing $5 million of his own money and expects at least $15 million from about 100 existing investors. [1 · TechCrunch]

The report’s high confidence applies specifically to the described round structure. This is not ordinary growth financing: it sharply redistributes risk and ownership between those willing to support the company again and those who decline. [1 · TechCrunch]

A new strategy and unverified claims

Breslow returned as CEO in 2025 and is promoting a universal app combining shopping, peer-to-peer transfers, cryptocurrency transactions and cards. He says Bolt is growing again, approaching profitability and developing products ten times faster thanks to AI. [1 · TechCrunch]

These claims are not supported by independent metrics. The company also did not disclose its cash balance or the composition of prior obligations. The round therefore buys time without itself demonstrating a business recovery, renewed customer trust or a sustainable strategy. [1 · TechCrunch]

What will show actual results

The next verifiable signals will be the bridge round’s closing, the terms of a possible Series E2 round, customer churn trends and actual profitability. Until those data are available, the earlier high valuation and promises of faster development cannot serve as measures of financial resilience. [1 · TechCrunch]