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

Ryan Breslow is raising up to $27 million in a convertible note bridge round with a pay-to-play clause to keep checkout-processing startup Bolt afloat after its valuation dropped from $11 billion to $300 million. The round is funded by existing investors and a $5 million personal commitment from Breslow. It will clear legacy obligations, capitalize on recent milestones, and position Bolt for a future Series E2 funding. The financing will convert into equity at a discount once Bolt closes its next major round.