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Raise secures USD 60 million in funding, adds PayPal as an investor

Thursday 21 September 2017 | 11:50 AM CET

Raise, a US-based startup, has managed to raise USD 60 million in Series C round of funding, led by Accel and including PayPal, NEA and Bessemer Venture Partners.

With USD 147 million in total capital since its launch in 2013, the company plans to extend its offering and services. Raise started as a peer-to-peer marketplace for buying and selling gift cards, but it is quickly expanding its payment capabilities. 

The company also partners with business who list their gift cards on the website to increase inventory and target consumers in a more efficient way. This is slowly becoming a payment method; a consumer can buy a gift card and use it to pay for purchases directly within the Raise app. 

Raise has more than two million active users, and just recently crossed USD 1 billion in cards sold on the platform, highlight the company’s potential to become an important player in the payments business. This potential is further confirmed by one its newest investors, PayPal. 

More: Link
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