Raise, a PayPal-supported company that specializes in digital gift cards and loyalty programs, has collected a round of $ 63 million led by Haun Ventures. Round brings Ray’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 ready to use the means to develop its blockchain-supported smart cards and expand the Retail Alliance Foundation, a non-profit that focuses 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 is not a reaction to market trends-this is the result of years of investment, research and infrastructure structure to bring a full on-chain, programmable retail currency to life,” the platform’s founder and CEO George Bousk told Coindesk.
“The Crypto industry needs real benefit now more than ever. Investors are the demand for speculation and consumers are tired of broken promises, ”BOUSIS added.
“We have spent over a decade of exploring how blockchain can drive changes in the real world in the gift card industry on several trillion dollars.”
Together with the financing round, the company announced a new board of directors with Marco Santori, formerly Clo of Kraken; George Ruan, co -founder of Honey; Matt Maloney, founder of Grubhub; and Bjorn Wagner, CEO of Parity Technologies. Their experience spans fintech, crypto and e-commerce.
