Raise Secures $63 Million Funding Round

Raise, a PayPal-backed company specializing in digital gift cards and loyalty programs, has raised a $63 million round led by Haun Ventures. This funding increases Raise’s total investment to over $220 million.

Investors

Other participants included Amber Group, Anagram, and GSR, among others, according to a press release.

Future Plans

Based in Chicago, the company plans to use the funds to develop its blockchain-backed Smart Cards and expand the Retail Alliance Foundation, a non-profit dedicated to securing and modernizing the global gift card network.

The goal is to transform gift cards into a “fully programmable retail currency” that enhances brand loyalty.

> “This isn’t a reaction to market trends — it’s the result of years of investment, research, and infrastructure-building to bring a fully on-chain, programmable retail currency to life,” stated the platform’s founder and CEO George Bousis to CoinDesk.

Bousis emphasized, “The crypto industry needs real utility now more than ever. Investors are demanding substance over speculation, and consumers are tired of broken promises.”

> “We’ve spent over a decade exploring how blockchain can drive real-world change in the multi-trillion-dollar gift card industry.”

New Board of Directors

Along with the funding announcement, Raise revealed a new board of directors which includes 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 experience spans fintech, crypto, and e-commerce.