Raise, a PayPal-backed company specializing in digital gift cards and loyalty programs, has raised a $63 million round led by Haun Ventures. The round brings Raise’s total funding to over $220 million.
Other participants included Amber Group, Anagram, and GSR, among others, according to a press release. The Chicago-based company is set to use the funds to develop its blockchain-backed Smart Cards and expand the Retail Alliance Foundation, a non-profit focused on securing and modernizing the global gift card network.
The company aims to make gift cards a “fully programmable retail currency” that strengthens 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,” the platform’s founder and CEO George Bousis told CoinDesk.
“The crypto industry needs real utility now more than ever….
