Raise

About Raise

Raise operates a prominent e-commerce platform specializing in the buying and selling of digital and physical gift cards, positioning itself as a key player in the retail payments sector. The company was established in 2013 by George Bousis and Bradley Wasz, stemming from an earlier venture named CouponTrade which was founded in 2010. Bousis, whose background includes working in his family's grocery business and a stint as a professional e-sports gamer, identified an opportunity in the billions of dollars of unused gift card value each year. This insight, coupled with his passion for technology, led to the creation of Raise.

The platform serves two primary client types: consumers who can purchase gift cards at a discount and individuals who want to sell their unwanted gift cards for cash. The business model is centered on creating a secondary marketplace for these cards. Raise generates revenue by taking a commission from each gift card sale conducted on its platform. Initially, this was a 15% cut, which later adjusted to 12%. For buyers, the platform offers savings on a wide variety of brands, while sellers gain liquidity from an otherwise static asset. The marketplace features gift cards in various formats, including physical cards shipped to the buyer, eGift cards for online use, and vouchers for in-store redemption.

Since its launch, Raise has achieved significant milestones, including raising over $220 million in total funding across multiple rounds from notable investors like Accel, New Enterprise Associates (NEA), Bessemer Venture Partners, and PayPal. Key funding rounds include an $18 million Series A in 2013, a $56 million Series B in 2015, a $60 million Series C in 2017, and a $63 million round in 2025. The company has facilitated over $5 billion in transactions for its nearly 7 million users. Building on its core marketplace, Raise has expanded its offerings by launching a mobile payments app called Slide, which provides users with cash back on purchases. More recently, the company is leveraging its latest funding to develop blockchain-powered "Smart Cards" aimed at creating a more secure, interoperable, and fraud-resistant gift card network. This initiative includes the formation of the Retail Alliance Foundation, a non-profit coalition to unite retailers.