Quick Take:
- Raise secured $63 million in a funding round led by Haun Ventures, building on previous investments from PayPal, Accel, and New Enterprise Associates.
- The company aims to grow its blockchain-powered “Smart Cards” initiative, expanding its reach and capabilities.
- Additionally, Raise has introduced a new Board of Directors, featuring former executives from Kraken, Honey, and GrubHub.
Raise, a PayPal-backed leader in digital gift cards and loyalty programs, has secured an impressive $63 million funding round led by Haun Ventures, bringing its total funding to over $220 million.
The round saw participation from top-tier investors, including Amber Group, Anagram, and GSR, underscoring strong confidence in Raise’s vision. With this fresh capital, the Chicago-based company is accelerating the development of its blockchain-powered Smart Cards and expanding the Retail Alliance Foundation, a nonprofit dedicated to modernizing and securing the global gift card ecosystem.
Raise is transforming gift cards into a “fully programmable retail currency” that enhances brand loyalty. “This isn’t just a response to market trends—it’s the culmination of years of investment, research, and infrastructure-building to bring a fully on-chain, programmable retail currency to life,” said founder and CEO George Bousis in a statement to CoinDesk.
“The crypto industry needs real utility now more than ever. Investors are demanding substance over speculation, and consumers are tired of empty promises,” Bousis added. “We’ve spent over a decade proving how blockchain can drive real-world change in the multi-trillion-dollar gift card industry.”
Alongside the funding announcement, Raise introduced its powerhouse board of directors, featuring fintech and crypto heavyweights: Marco Santori, former CLO of Kraken; George Ruan, co-founder of Honey; Matt Maloney, founder of GrubHub; and Bjorn Wagner, CEO of Parity Technologies. Their collective expertise in fintech, crypto, and e-commerce positions Raise for even greater impact in reshaping the future of digital payments.