E-commerce Unicorn Bolt To Buy Blockchain Startup Wyre For $1.5B

Fintech unicorn Bolt is buying crypto startup Wyre for $1.5 billion, The Details documented Thursday, citing sources common with the subject. The hard cash-and-stock deal for Wyre, established in 2013, provides crypto payment abilities to Bolt’s e-commerce checkout technologies.

Wyre has raised $29.1 million from venture buyers, Crunchbase facts displays, which includes a elevate in January 2021 led by blockchain trader Stellar Growth Basis.

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San Francisco-based Bolt has elevated a complete of $1 billion from non-public buyers, like $355 million most lately as aspect of its Collection E raise. The company is valued at an estimated $11 billion, in accordance to The Crunchbase Unicorn Board.

The Wyre acquisition is anticipated to close in the 3rd or fourth quarter of this 12 months, per The Details. The deal will integrate San Francisco-primarily based Wyre’s blockchain engineering into Bolt, instead than have the crypto corporation operate independently, the publication documented.

Bolt most a short while ago acquired Tipser, a Stockholm-dependent material monetization platform, for $200 million in November.