Founded Date
2019
Founders
Will Reeves; Matt Luongo
CEO
Will Reeves (co-founder, Chairman and CEO since 2019)
Key Leadership
Wolfe Repass (CFO); Thomas Dickman (CTO); Matthew McManus (COO)
Regulatory Status
Not a bank and holds no banking charter; Visa prepaid card issued by Sutton Bank (FDIC member); credit card issued by a partner bank
Market Valuation
approx. $30.4M market cap ($0.5521 close on 2026-09-09; approx. 55.1M shares)
Official Website
Infrastructure Overview
First publicly traded bitcoin financial services company - a mobile app plus Visa card program paying bitcoin back on everyday spending
Vertical Assets
Fold Card (Visa bitcoin-rewards card, launched 2019-2020); Fold Bitcoin Rewards Credit Card (Visa plus Stripe, general availability 2026-03); Fold app
Tech Specs
Custodial app on the Visa card network; Stripe-issued credit card; bitcoin custody and trade execution via BitGo
Strategic Network Value
Mainstream bitcoin rewards on everyday spending
BTC Holdings
Holds a corporate bitcoin treasury (amount not verified from source)
Fiat Valuation
N/A
BTC Yield Per Share
N/A
Treasury Strategy
Corporate bitcoin treasury plus rewards program
Primary Business Revenue
Banking/payments revenue (card-program interchange/fees) $30.3M of $31.8M FY2025 net revenue (+34% YoY); custody and trading $1.46M; other $0.06M; FY2025 net loss $69.6M
Revenue Activities
Card interchange and fees; bitcoin custody and trading
Lead Investors
Craft Ventures (led 2019-09 $2.5M seed and 2021-05 $13M Series A); CoinShares; Slow Ventures; Goldcrest Capital; Fulgur Ventures; Thesis; M13; Bessemer Venture Partners
Total Invested Capital
Pre-IPO approx. $36M-$38.5M across four rounds; 2024 SAFEs $72.1M gross ($64.1M funded in bitcoin); $20M senior secured
Founder Pedigree
Will Reeves - co-founder, Chairman and CEO; previously Head of Payments at Thesis and co-founder of Chargify; Matt Luongo - founder/CEO of Thesis
Subsidiaries
Fold, Inc. (Delaware) and Fold Credit SPV I Trust (Delaware)
Official Email
Physical Address
Phoenix, AZ, USA
Phone Number
N/A
X (Twitter)