It's a Growth/PE-lead deal with Ryan returning as CEO.
Either he'll execute and help Bolt hit the metrics needed to IPO, or the fund will spin it off or sell it to another fund or company.
Either way the terms are very generous for the two unnamed funds.
I think Index Ventures and ADIA (making an e-commerce push recently) are the two partners because of their e-commerce heavy portfolios, can justify unlocking one-click pay within their portfolio, and can protect Revolut from Klarna's recent expansion into neobanking.
Either he'll execute and help Bolt hit the metrics needed to IPO, or the fund will spin it off or sell it to another fund or company.
Either way the terms are very generous for the two unnamed funds.
I think Index Ventures and ADIA (making an e-commerce push recently) are the two partners because of their e-commerce heavy portfolios, can justify unlocking one-click pay within their portfolio, and can protect Revolut from Klarna's recent expansion into neobanking.