Here’s the 12-page deck that one-click checkout Bolt used to outline its network of 5.6 million consumers and raise its Series D
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.
- Bolt, the one-click checkout fintech, just raised a $393 million Series D.
- Bolt has a growing network of consumers shopping across multiple Bolt-powered merchants.
- Here’s the 12-slide pitch deck Bolt used to raise the round.
Amazon has long dominated e-commerce with its one-click checkout flows, offering easier ways for consumers to shop online than its small-business competitors.
Bolt gives small merchants tools to offer the same easy checkouts so they can compete with the likes of Amazon.
The startup raised its $393 million Series D to continue adding its one-click checkout feature to merchants’ own websites in October.
Bolt markets to merchants themselves. But a big part of Bolt’s pitch is its growing network of consumers — 5.6 million as of July 2021 — that use its features across multiple Bolt merchant customers.
Roughly 5% of Bolt’s transactions were network-driven in May, meaning users that signed up for a Bolt account on another retailer’s website used it elsewhere. The network effects were even more pronounced in verticals like furniture, where 49% of transactions were driven by the Bolt network.
“The network effect is now unleashed with Bolt in full fury, and that triggered the raise,” Bolt’s founder and CEO Ryan Breslow told Insider.
One-click checkouts can help merchants boost sales and convert more browsers to buyers. It drives 50% more conversion than guest checkouts, and boosts average order values by 23%, according to Bolt’s pitch deck.
With the fresh funding, Bolt is looking to hire around 150 people by the end of the year and another 500 next year, the majority of which will be in tech and engineering. That will bring its total headcount to 1,000 by the end of 2022.
The new hires will help Bolt build features for merchants beyond checkout, like returns management and loyalty.
Ultimately, Bolt wants to power ” everything after a customer has intent to purchase,” Breslow said.
In addition to growing its small retailer customer base, Bolt is also moving up market with larger retailers like Forever 21 and Lucky Brand.