Fold Raises $13M in Series A Funding

Fold, a San Francisco, CA-based bitcoin rewards app, raised $13m in Series A funding.

The round was led by Craft Ventures with participation from M13, Slow Ventures and Bessemer Venture Partners.

The company intends to use the capital to build out the rewards platform.

Led by CEO Will Reeves, Fold offers bitcoin cashback via its Visa debit card and mobile application. The app enables its customers to earn bitcoin on spending, saving and investing. Since its launch in 2019, Fold has created a waitlist of over 250,000 waiting for access to their card. In addition, the company is to open access to its bitcoin cashback debit card to all U.S. residents.