Raise Secures $63 Million to Transform the Payments and Loyalty Industry with Blockchain-Powered Gift Cards
Strategic Funding Round Was Led by Haun Ventures as the Company Seeks to Revolutionize Consumer Engagement and Drive Innovation in the Multi-Trillion Dollar Gift Card Industry
MIAMI, Feb. 26, 2025 /PRNewswire/ -- Raise, a leader in the global gift market and pioneer in blockchain-powered payments and loyalty, today announced the successful close of a $63 million funding round. Led by Haun Ventures, the round included participation from Amber Group, Anagram, Blackpine, Borderless Capital, GSR, Karatage, Paper Ventures, Pharsalus Capital, Selini Capital, Sonic Boom Ventures, the Web3 Foundation, and notable angels Tekin Salimi, Raj Gokal, Teddy Gorisse among others. This latest round brings Raise's total funding to over $220 million, building on prior investments from Accel, Paypal, and New Enterprise Associates (NEA).
"Raise has redefined how consumers interact with and value gift cards – it's about loyalty and share of wallet, not just gift-giving," said George Bousis, Founder and CEO of Raise. "For over a decade, we've invested tens of millions of dollars in bringing gift cards and loyalty programs on-chain. Now, we're making a nin-figure commitment over the next several years to fully realize this vision. Having been involved in blockchain and crypto since its early days, we waited for the right regulatory framework and the technological maturity to support a fully reconfigured, on-chain gift card industry. That time is now – the barriers that once existed are no longer obstacles."
Raise will use the funding to further develop its proprietary blockchain-backed gift card program, Smart Cards, and expand the Retail Alliance Foundation, its non-profit coalition dedicated to uniting global retailers and brands to create a more secure, interoperable, and fraud-resistant gift card network. Raise has seeded the Alliance and the Raise blockchain network with its intellectual property in partnership with BFG Labs, a wholly owned subsidiary of Raise Holdings Ltd. Raise's mission is to redefine gift cards as a secure, fully programable retail currency that strengthen trust and fosters deeper engagement between brands and their customers.
Diogo Monica, General Partner at Haun Ventures, commented, "Raise is seizing a massive, outdated market with the right mix of experience, infrastructure, and blockchain expertise. With deep industry ties and a real plan for adoption, this isn't just a bet on the future of gift cards—it's an investment in a proven team solving a trillion-dollar problem."
Raise's blockchain initiatives kicked off earlier this year with the upcoming integration of DOT Wallet through a partnership with the Polkadot Community Foundation, enabling seamless transactions within their application. Additionally, Raise partnered with WalletConnect to integrate the Raise app with leading digital wallets like Coinbase, MetaMask, Phantom, Trust, and other prominent ecosystems, which will be announced soon. Raise is rapidly expanding its B2B partnerships, engaging with major financial institutions and loyalty programs, including Citi Bank and BILT Rewards.
In conjunction with the funding round, Raise has also announced the appointment of a new Board of Directors featuring former CLO at Kraken and former President of Blockchain.com, Marco Santori, former co-founder and CEO of Honey, George Ruan, former founder and CEO of GrubHub, Matt Maloney, and Bjorn Wagner, CEO of Parity Technologies. With their expertise and support, Raise is well-positioned to execute its mission to redefine the future of gift cards and drive innovation in consumer loyalty.
With global sales projected to exceed $2.3 trillion by 2030, gift cards have evolved beyond simple transactional tools to become an integral component of the modern retail ecosystem. Since its founding, Raise has facilitated over $5 billion in transactions for its nearly 7 million users and 1,000+ retail partnerships, consistently driving innovation in the industry. The introduction of blockchain-powered gift cards marks the culmination of over a decade of work to reshape how consumers value, use and trust gift cards.
For more information, please visit: https://www.raise.com/
About Raise
Raise, a renowned pioneer in the gift card industry, has been at the forefront of innovation since its inception in 2013. The company has facilitated over $5 billion in transactions through its Raise consumer app, exchange (GCX), and B2B (Raise for Business) operations. With over 1,000+ brand partnerships, Raise offers activation and real-time redemption capabilities across a network of over one million stores, websites, and applications. For more information, please visit https://www.raise.com/.
About the Retail Alliance Foundation
The Retail Alliance Foundation is a non-profit coalition committed to revolutionizing the global loyalty economy. The Retail Alliance Foundation strives to create a secure, innovative, and inclusive gift card ecosystem by promoting transparency, advancing technology, and uniting industry stakeholders. Guided by industry leaders, we provide critical funding and resources to initiatives that empower stakeholders and ensure the long-term sustainability of the global gift card industry. Through collaboration and community-driven governance, we're setting new standards for loyalty while promoting happiness and trust.
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SOURCE Raise