The blockchain-based payment and gift card firm Raise obtained $63 million in a fresh financing round, bringing the firm's total funding past $220 million.
Haun Ventures led the round, which saw additional support 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, according to a Wednesday company release.
Raise intends to use the funds to develop its blockchain-based gift card program called Smart Cards, among other endeavors.
"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," said Raise CEO and Founder George Bousis in a statement. "That time is now – the barriers that once existed are no longer obstacles."
Raise has already moved to expand into blockchain payment industry through its partnership with the Polkadot Community Foundation to integrate into the DOT Wallet. In addition, the firm added support for MetaMask, Phantom, Coinbase Wallet and other high-profile digital wallets through its WalletConnect partnership in August 2024, The Block previously reported.
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