{
  "id": 4678810,
  "title": "Ryan Breslow is raising up to $27M in pay-to-play bridge funding to save Bolt",
  "url": "https://urgent.news/2026/08/31/ryan-breslow-is-raising-up-to-27m-in-pay-to-play-bridge-funding-to",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-08-31T17:14:44.000Z",
  "source": {
    "name": "TechCrunch",
    "slug": "techcrunch",
    "url": "https://techcrunch.com/2026/08/31/ryan-breslow-is-raising-up-to-27m-in-pay-to-play-bridge-funding-to-save-bolt/"
  },
  "original_language": "en",
  "account": "Ryan Breslow, the former CEO of Bolt, is currently attempting to secure up to $27 million in a pay-to-play bridge financing round to save the company he co-founded. This financing, structured as a convertible note, will convert into equity at a discount once the company successfully raises its next major round of funding. The bridge round includes a provision that would result in significant equity loss for investors who do not participate. Breslow claims that Bolt has been nearing profitability and returning to growth since experiencing a 97% decline in valuation in 2022. He personally is contributing $5 million to the round, demonstrating his commitment to the company. Breslow is confident in the company's prospects, believing it can be a \"Lyft to Stripe's Uber\" and is leveraging AI to improve operational efficiency. The financing comes two years after Breslow's previous failed attempt at a $450 million round. The new round aims to capitalize on recent operational milestones and clear legacy obligations, with at least 100 investors expected to participate, with Breslow committing $5 million of his own.",
  "summary": "The controversial founder of the checkout startup once valued at $11 billion is putting in $5 million of his own money.",
  "key_points": [
    "Ryan Breslow seeks up to $27M in pay-to-play bridge funding for Bolt.",
    "Convertible note converts to equity at discount post next funding round.",
    "Breslow contributes $5M personally, aiming to revive Bolt's profitability."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}