Ryan Breslow is raising up to $27M in pay-to-play bridge funding to save Bolt

Ryan Breslow, the controversial entrepreneur who returned as CEO of Bolt last year after years of legal battles and clashes with investors, refuses to give up on the checkout processing startup he co-founded in 2014.

The company, which hit an $11 billion valuation in early 2022 before plummeting 97% to $300 million, is now raising a bridge round of up to $27 million, Breslow told TechCrunch. Bridge rounds are short-term financings meant to tide a company over until its next major fundraise.