Raise just secured $63 million in fresh funding, a move that could redefine the $1 trillion gift card industry through blockchain innovation. The round was led by Haun Ventures, with additional backing from Amber Group, Anagram, Blackpine, Borderless Capital, GSR, Karatage, Paper Ventures, Pharsalus Capital, Selini Capital, Sonic Boom Ventures, the Web3 Foundation, and several angel investors.
Raise, known for its blockchain-integrated payment and gift card solutions, plans to use the new capital to accelerate the development of Smart Cards, a next-generation blockchain-based gift card system designed to improve security, efficiency, and interoperability across retailers and financial platforms.
With growing investor confidence and an expanding ecosystem of strategic partners, Raise is positioning itself at the forefront of digital payments innovation, offering a more transparent, fraud-resistant, and scalable alternative to traditional gift card systems.
Diogo Monica, General Partner at Haun Ventures, commented about the round;
“Raise is seizing a massive, outdated market with the right mix of experience, infrastructure, and blockchain expertise.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.“
Pioneering Blockchain-Powered Gift Cards
Founded in 2013 by George Bousis, Raise has facilitated over $5 billion in transactions through its consumer app, gift card exchange (GCX), and B2B operations. With a user base nearing 7 million and partnerships with over 1,000 brands, the company is now focusing on developing Smart Cards—blockchain-backed gift cards designed to combat fraud and improve interoperability. Bousis emphasized the timing of this initiative, stating,
“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.”
Strategic Expansion and New Leadership
The recent funding will also support the expansion of the Retail Alliance Foundation, a nonprofit coalition founded by Raise to unite global retailers and brands in creating a more secure and fraud-resistant gift card network. In conjunction with the funding, Raise has appointed new members to its Board of Directors, including Marco Santori, former Chief Legal Officer at Kraken; George Ruan, co-founder and former CEO of Honey; Matt Maloney, founder and former CEO of GrubHub; and Bjorn Wagner, ex-CEO of Polkadot developer Parity Technologies. These additions bring a wealth of experience in fintech and blockchain, positioning Raise for strategic growth in the evolving digital payments landscape.
Investor Confidence in Blockchain Solutions
As part of its push into the blockchain payments industry, Raise had initially secured a partnership with the Polkadot Community Foundation to integrate its services into the DOT Wallet. This move strengthened Raise’s presence in the Web3 ecosystem, allowing users to seamlessly transact using Polkadot’s native wallet infrastructure.
In addition, Raise has expanded its wallet compatibility, adding support for MetaMask, Phantom, Coinbase Wallet, and several other high-profile digital wallets. This was made possible through its WalletConnect partnership, launched in August 2024, which enables broader accessibility and interoperability across decentralized finance (DeFi) applications.
Quick Facts:
- Funding Amount: Raise secured $63 million in a round led by Haun Ventures.
- Innovative Product: Introduction of blockchain-based “Smart Cards” to enhance security and interoperability in the gift card industry.
- Strategic Appointments: New board members include former executives from Kraken, Honey, GrubHub, and Parity Technologies.
- Industry Impact: Raise aims to modernize the $1 trillion gift card market by leveraging blockchain technology.
