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.
For further information: please visit our website at www.stackcapitalgroup.com or contact: Brian Viveiros, VP, Corporate Development and Investor Relations, 647.280.3307, [email protected]