# Card for Coin

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/card-for-coin

- Industry: Software
- Headquarters: San Mateo, US
- Website: https://foldapp.com/
- Total disclosed funding: $18M
- Latest round: Series A (Mar 23, 2021)
- Investors on record: 4

## About

Card for Coin, Inc. is a financial technology company that enhances everyday transactions with cryptocurrency, allowing users to earn Bitcoin rewards through a mobile app and debit card.Founded in 2014, Card for Coin, Inc. operates in San Mateo, California, US. The company specializes in integrating Bitcoin into personal finance through its mobile application and debit card. The founder team includes Cheryl Dillon-Kight, Corbin Pon, Evelina Ozola, Renad Alharbi, Seth Mowshowitz, Soran Shangapour, and Will Reeves, who serves as CEO. The company raised USD 17.50 mn in Series A funding on March 23, 2021, led by Craft Ventures, to further develop its rewards platform, which has helped to enhance its current valuation at USD 51.768 mn.Fold operates primarily in the personal finance sector, leveraging Bitcoin to enhance everyday financial transactions and rewards. Its core offerings include a mobile app and associated debit card that allow users to earn Bitcoin (referred to as "sats") on every purchase made at various retail merchants. The app supports features such as auto-stacking and round-ups, enabling users to accumulate Bitcoin passively, thereby creating an accessible pathway for individuals to engage with cryptocurrency without needing to make significant upfront investments. Fold's services cater primarily to individual consumers interested in bitcoin accumulation and personal finance management, with a particular focus on markets in the United States. The platform's user base has expanded with the introduction of gift cards from numerous retailers, enhancing its appeal and functionality for everyday spending while promoting Bitcoin adoption.Fold's revenue model is centered around transaction fees and partnerships with various retail merchants. When users make purchases through the Fold app or debit card, a percentage of the transaction may be retained as a fee, allowing the company to monetize the volume of transactions facilitated through its platform. This structure supports direct-to-consumer interactions, where individual users earn Bitcoin rewards while Fold collaborates with retailers to promote their products. The forthcoming Fold Bitcoin Rewards Credit Card is expected to further enhance this revenue stream by incentivizing spending through rewards, while also introducing potential subscription features for premium services. The company's operations revolve around creating value for both users by helping them earn Bitcoin and for retailers by driving sales through customer engagement.Card for Coin, Inc. plans to utilize the recent USD 17.50 mn funding from its Series A round, which concluded on March 23, 2021, to build out its rewards platform. The company's growth strategy includes the development of new products, such as the Fold Bitcoin Rewards Credit Card, which is anticipated to launch soon. Additionally, the company is considering expansion into new markets within the United States, aiming to increase its user base and transaction volume. With the support of its latest funding, Card for Coin, Inc. seeks to enhance its value proposition for both users and retail partners.

## Funding rounds

- Series A, Mar 23, 2021, $18M — Bessemer Venture Partners, Slow, M13, Craft Ventures

## Investors

- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Series A
- Slow (https://capitalatlas.ai/funds/slow) — Series A
- M13 (https://capitalatlas.ai/funds/m13) — Series A
- Craft Ventures (https://capitalatlas.ai/funds/craft-ventures) — Series A