Bolt Secures $50M in Series C Funding To Unveil Checkout Experience Platform
A big challenge retailers face is getting online shoppers to complete a transaction once they’ve initiated the checkout process. Unfortunately, nearly 70 percent of the time, they don’t.
Shopping cart abandonment reasons are plentiful—there are over a dozen—and it’s getting expensive for retailers to figure out how to capture every customer, Ryan Breslow, founder and CEO of Bolt told me in an interview.
Thursday, San Francisco-based Bolt unveiled what Breslow says is the world’s first checkout experience platform, powered by a $50 million Series C round of funding led by WestCap’s Laurence Tosi. Bolt, founded in 2014, gives retailers and consumers more choice, control and flexibility over their transactions by managing the back end of the checkout—presenting payment options, securely processing payments, and mitigating fraud—while providing a seamless front end experience.
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