Ryan Breslow is officially back—and he’s making a bold move. The founder of Bolt has launched a new superapp, just weeks after reclaiming his CEO role in March. This new app blends crypto, payments, and order tracking into a single mobile platform.
Breslow calls it a one-click solution for both crypto and everyday payments. It’s designed for users who want the convenience of PayPal, the crypto tools of Coinbase, and the peer-to-peer features of Zelle—all in one place.
He sees the app as the next step in Bolt’s journey. After years of stagnating revenue and legal challenges, Breslow believes this new product could mark a major comeback.
All-in-One: Crypto, Payments, and Rewards
The app allows users to buy, sell, send, and receive cryptocurrencies like Bitcoin, Ethereum, USDC, Solana, and Polygon. It’s powered by Zero Hash and provides real-time, on-chain balances.
Bolt’s app also includes one-click peer payments—something Breslow hopes will appeal to users left behind by Zelle’s standalone app shutdown. Unlike Zelle, which operates through bank apps, Bolt offers a smoother, bank-free experience.
To round out the offering, Bolt partnered with Midland States Bank to provide a debit card. It includes up to 3% cashback on eligible purchases and up to 7% in store credits for Love.com, another startup founded by Breslow. However, users must transfer funds from their existing bank accounts to use the card.
Beyond payments, the app offers order tracking, similar to Klarna, giving users real-time updates on their purchases.
A Rapid Build and Ambitious Vision
The team built the new superapp in just six months. Justin Grooms, Bolt’s president, and Kartik Ramachandran, the chief product officer, began work before Breslow returned. He advised them throughout the development phase.
Now with 140 employees, Bolt has shifted into high gear. The app is live on iOS, with Android access coming soon. Early users will join a waitlist, with iPhone users gaining first access.
Although Bolt’s revenue growth slowed in recent years, its shopper network has ballooned. When Breslow stepped down, Bolt had 10 million users. Today, that number has grown to 80 million in the U.S. alone.
Bolt plans to generate revenue through crypto trading fees and debit card transactions. Breslow says the company already holds valuable user data and payment history, giving it a head start.
Settling Scores and Eyeing the Future
Breslow’s return follows several legal disputes. Last year, Bolt attempted to raise $450 million in a complex deal that drew investor backlash. That round included $250 million in “marketing credits” and confusion around its lead investor. BlackRock and Hedosophia tried to block the deal, but all parties later dropped the lawsuit.
Another investor, Activant Capital, sued Breslow over a $30 million loan. The founder had reportedly defaulted, leaving Bolt to repay the debt. The case was settled after Bolt bought back Activant’s shares for $37 million.
At a fintech conference this March, Breslow said the loan showed his loyalty to the company. He acknowledged the past few years have been difficult, but said he’s earned back trust from his team, investors, and legal authorities.
“I’ve learned more in the past three years than in the decade before,” he said. Despite the setbacks, Breslow says he’s grateful that Bolt has endured.
Bolt has raised about $1 billion in venture funding over the years and once hit a valuation of $11 billion. Investors include BlackRock, Schonfeld, Invus Opportunities, H.I.G. Growth, and Moore Strategic Ventures.
Now, with a new product, a growing user base, and fresh momentum, Breslow is betting that Bolt’s second act will be stronger than its first.
