Bolt Seeks Up to $27 Million as CEO Works to Revive Payments Startup

Ryan Breslow is seeking up to $27 million in bridge financing for Bolt, the payments startup he co-founded, as he works to stabilize the company and position it for a larger funding round, according to TechCrunch. The financing is being raised from Bolt’s existing investors and is structured as a convertible note, the news outlet reported Monday (Aug. The round includes a “pay-to-play” provision that would reduce the equity stakes of investors who decline to participate.