What is Fold?
Fold offers a unique proposition in the consumer finance and e-commerce space by providing bitcoin cashback through its proprietary Visa card and mobile application. This platform empowers shoppers with a more cost-effective and secure method to shop, save, and earn rewards. Unlike traditional loyalty programs, Fold allows users to immediately spend their bitcoin rewards, save them for future appreciation, or utilize them in subsequent purchases. Furthermore, Fold enhances the merchant experience by reducing chargebacks, fostering a more beneficial e-commerce ecosystem for both consumers and businesses through improved privacy and rewards.
How much funding has Fold raised?
Fold has raised a total of $283M across 3 funding rounds:
Series A
$13M
Debt
$20M
Stock/Share Issuance
$250M
Series A (2021): $13M with participation from Craft Ventures, Bessemer Venture Partners, Slow Ventures, and M13
Debt (2024): $20M led by ATW Partners
Stock/Share Issuance (2025): $250M, investors not publicly disclosed
Key Investors in Fold
ATW Partners
ATW Partners is focused on investing in innovative companies with significant long-term growth potential, employing a flexible strategy that prioritizes high growth while mitigating risks. They seek businesses led by experienced entrepreneurs with proven success and unique value propositions.
Craft Ventures
Craft Ventures is a venture firm focused on building great companies, particularly in the B2B technology sector, comprised of former founders and operators who provide valuable insights and access to senior talent for early-stage companies.
Bessemer Venture Partners
Bessemer Venture Partners (Bessemer) is a venture capital firm established in 1911, with offices globally. It has a long history of investing in and supporting technology companies.
What's next for Fold?
With the recent influx of major strategic investment and its substantial total funding, Fold is strategically positioned for accelerated growth and market penetration. The company's focus on a private-by-default card and a mobile application that offers up to 20% bitcoin cashback on all purchases indicates a strong commitment to innovation in the fintech rewards sector. This capital is expected to fuel further development of its platform, expand its user base, and potentially explore new partnerships within the e-commerce and cryptocurrency landscapes. Fold's approach to integrating bitcoin rewards into everyday shopping presents a compelling model for the future of consumer loyalty programs.
See full Fold company page
