Summary:
Raise, a company backed by PayPal, has secured $63 million in funding to expand its blockchain gift card system. The company aims to transform digital gift cards into a “programmable retail currency” to enhance brand loyalty and modernize the global gift card network.
Raise, a leading company in digital gift cards and loyalty programs, recently announced a significant milestone in its journey towards revolutionizing the retail industry. With a fresh injection of $63 million in funding, led by Haun Ventures, the Chicago-based company is gearing up to take its blockchain-backed Smart Cards to the next level. This latest round of funding brings Raise’s total funding to an impressive $220 million, marking a significant step forward in their mission to reshape the way we think about gift cards.
A New Era in Retail Currency
The core mission of Raise is to transform traditional gift cards into a fully programmable retail currency, with a focus on strengthening brand loyalty and enhancing the overall consumer experience. This innovative approach is not just a response to market trends but the culmination of years of dedicated investment, research, and infrastructure-building. According to George Bousis, the platform’s founder and CEO, the goal is to bring a fully on-chain, programmable retail currency to life, offering real utility in an industry hungry for substance over speculation.
Bousis emphasized the need for tangible value in the crypto industry, highlighting the growing demand for solutions that deliver on their promises. With over a decade of experience exploring the potential of blockchain technology in the gift card sector, Raise is well-positioned to drive meaningful change in this multi-trillion-dollar industry. By offering a seamless and secure platform for digital gift cards, Raise aims to empower consumers and businesses alike, creating a more efficient and transparent ecosystem for retail transactions.
Expert Insights and Strategic Partnerships
In addition to the funding round, Raise also announced a new board of directors featuring industry veterans with diverse backgrounds in fintech, crypto, and e-commerce. The inclusion of Marco Santori, former CLO of Kraken; George Ruan, co-founder of Honey; Matt Maloney, founder of GrubHub; and Bjorn Wagner, CEO of Parity Technologies, brings a wealth of expertise to the table. Their combined experience and insights will undoubtedly play a crucial role in guiding Raise towards its ambitious goals and solidifying its position as a leader in the retail currency space.
As Raise continues to expand its offerings and reach new milestones, the company remains committed to its core values of innovation, transparency, and customer-centricity. With a team of dedicated professionals and strategic partnerships in place, Raise is well-equipped to navigate the evolving landscape of the retail industry and deliver on its promise of a more connected and efficient retail experience. Stay tuned for more updates from Raise as they pave the way for a new era in retail currency.
Francisco Rodrigues, a seasoned reporter with a passion for cryptocurrencies and personal finance, brings a unique perspective to the world of blockchain technology and retail innovation. With a diverse background in financial journalism, Francisco’s insights offer valuable perspectives on the intersection of technology and commerce. As he continues to cover the latest developments in the crypto space, Francisco remains committed to providing accurate and insightful commentary that resonates with readers across the globe.
