Raise, a leader in the global gift market and innovator in blockchain-based payments and loyalty systems, has announced the successful completion of a $63 million funding round. This round, led by Haun Ventures, saw participation from several notable investors, including Amber Group, Anagram, Blackpine, Borderless Capital, GSR, Karatage, Paper Ventures, Pharsalus Capital, Selini Capital, Sonic Boom Ventures, the Web3 Foundation, as well as prominent angel investors such as Tekin Salimi, Raj Gokal, and Teddy Gorisse, among others. With this latest investment, Raise has raised over $220 million to date, following prior funding from Accel, PayPal, and New Enterprise Associates (NEA). The newly acquired funding will enable Raise to enhance its proprietary blockchain-based gift card initiative known as Smart Cards, while also expanding the Retail Alliance Foundation—a non-profit organization aimed at uniting retailers and brands globally to create a more secure, interoperable, and fraud-resistant gift card ecosystem. Raise has already established the Alliance and the Raise blockchain network by integrating its intellectual property in collaboration with BFG Labs, a wholly owned subsidiary of Raise Holdings Ltd. Raise's objective is to transform gift cards into a secure, fully programmable type of retail currency that enhances trust and promotes deeper connections between brands and their customers. Earlier this year, Raise initiated its blockchain projects with the upcoming integration of DOT Wallet via a partnership with the Polkadot Community Foundation, which will allow for streamlined transactions within their application. Additionally, Raise has collaborated with WalletConnect to link the Raise app with leading digital wallets such as Coinbase, MetaMask, Phantom, and Trust, with more details to be revealed soon. Raise is significantly expanding its B2B relationships, engaging with major financial institutions and loyalty programs, including Citi Bank and BILT Rewards. In conjunction with this funding round, Raise has announced the formation of a new Board of Directors, which includes prominent figures such as former CLO of Kraken and ex-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 extensive experience and support, Raise is well-equipped to achieve its goal of transforming the future of gift cards and innovating consumer loyalty. KEY QUOTES: “Raise has transformed the way consumers engage with and perceive gift cards—it’s about loyalty and share of wallet, rather than merely gift-giving. For over a decade, we have invested significant resources to integrate gift cards and loyalty programs on-chain. Now, we are committing nine figures over the coming years to bring this vision to fruition. Having been involved in blockchain and crypto since its inception, we were waiting for an ideal regulatory environment and the technological advancements needed to support a restructured, on-chain gift card industry. That time has arrived—the hurdles that once existed are no longer barriers. ” George Bousis, Founder and CEO of Raise “Raise is tackling a massive, outdated market with the right blend of experience, infrastructure, and blockchain knowledge. With strong industry connections and a robust plan for adoption, this is not merely a gamble on the future of gift cards—it is an investment in a proven team addressing a trillion-dollar challenge. ”