TORONTO, Oct. 13, 2021 /CNW/ - Stack Capital Group Inc.
("Stack Capital") (TSX: STCK) (TSX: STCK.WT) is pleased to announce
that it has invested $6 million USD
directly into Bolt Financial, Inc. ("Bolt") – the world's first
federated One-Click checkout experience platform; connecting
millions of shoppers to a wide array of retailers in a unified
cross-brand network, and a member of the 2021 Forbes Fintech 50
list. This new raise brings Bolt's total funding to over
$600 million and the company has big
plans to bring one-third of all US shoppers on its platform by
2022.
Headquartered in San Francisco,
California, Bolt solves the complicated technological
challenges involved in checkout, fraud detection, and digital
wallets making the online checkout process fast, safe, and easy on
any device. The Bolt network allows any shopper with a
registered account to benefit from One-Click checkout across any
Bolt merchant site, regardless of whether the shopper has purchased
from that merchant before, resulting in a conversion rate that is
50% higher than guest checkout. Bolt also has the ability to
cover 100% of fraudulent chargebacks, highlighting the confidence
level in its fraud detection technology. Today, Bolt partners
with hundreds of retailers, with thousands more coming on-line, and
has just crossed the milestone of 10 million registered
shoppers.
"Bolt is the type of innovative and disruptive business that
Stack Capital seeks to invest into and support", said Jeff Parks, CEO of Stack Capital. "Bolt
has already reached critical mass, established product market fit,
and is on a path towards accelerated growth."
To access a copy of Bolt's press release dated October 12, 2021, please click here.
About Stack Capital
Stack Capital is an investment holding company and its business
objective is to invest in equity, debt and/or other securities of
growth-to-late-stage private businesses. SC Partners Ltd. (the
"Manager") has taken the initiative in creating the Company and
acts as the Company's administrator and is responsible to source
and advise with respect to all investments for the Company.
SOURCE Stack Capital Group Inc.