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Monday, March 4, 2024

Fintech giant Bolt to buy crypto startup Wyre in $1.5B cash-and-stock deal

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Bolt is paying $1.5 billion to acquire cryptocurrency startup Wyre. The cash-and-stock deal expands Bolt’s e-commerce checkout technology’s crypto payment capabilities.

Bolt, a fintech unicorn, is buying crypto firm Wyre  in a $1.5 billion cash-and-stock transaction. Wyre would add crypto payment capabilities to Bolt’s e-commerce checkout platform.

According to Crunchbase records, Wyre has attracted $29.1 million from venture investors, including a financing in January 2021 led by blockchain investor Stellar Development Foundation.

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Located in San Francisco, Bolt has raised a total of $1 billion from private investors, including $355 million in its most recent Series E round. According to The Crunchbase Unicorn Board, the company is worth an estimated $11 billion.

The Wyre transaction is scheduled to close in the third or fourth quarter of this year. According to the publication, the agreement will integrate San Francisco-based Wyre’s blockchain technology inside Bolt rather than having the crypto company operate separately.

In November, Bolt paid $200 million for Tipser, a Stockholm-based content monetization platform.


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