Founded
2014
2014
CEO
Will Reeves
Will Reeves
Status
Private (Announced intent to go public via SPAC)
Private (Announced intent to go public via SPAC)
Valuation
~$365M (Estimated via FTAC Zeus merger)
~$365M (Estimated via FTAC Zeus merger)
Founders
Will Reeves, Matt Luongo, Corbin Pon
Will Reeves, Matt Luongo, Corbin Pon
Key Leadership
Will Reeves (CEO), various leads in fintech and consumer rewards.
Will Reeves (CEO), various leads in fintech and consumer rewards.
Category
Bitcoin Rewards, Consumer Fintech, Payments
Bitcoin Rewards, Consumer Fintech, Payments
Regulatory Status
Visa Principal Member; Partners with FDIC-insured banks (e.g., Sutton Bank).
Visa Principal Member; Partners with FDIC-insured banks (e.g., Sutton Bank).
BTC Holding
Undisclosed (Holds treasury and manages rewards for over $2B in transaction volume)
Undisclosed (Holds treasury and manages rewards for over $2B in transaction volume)
Website
foldapp.com
foldapp.com
Product Ecosystem
Fold builds consumer-facing Bitcoin integration tools. Their flagship product is the Fold Visa Debit Card, which allows users to earn Bitcoin rewards (Sats) on every purchase. Their mobile app includes a gift card marketplace and a gamified “spin” mechanism that has turned Bitcoin accumulation into a daily habit for millions of users.
Open Source / Tech
- Lightning Network Integration
- Early adopter of BitRefill APIs
Standards
- Visa Network Protocol
- PCI-DSS Compliance
Why Bitcoin Needs Them
Fold acts as a massive onboarding funnel. By rewarding users in Bitcoin for existing spending habits, they remove the psychological barrier of “buying” an asset. This creates a low-friction pathway for non-technical users to enter the Bitcoin ecosystem and eventually move toward self-custody.
| Invested Amount | ~$13M+ (Private Funding) + Pending SPAC merger |
| Lead Investors | Craft Ventures, CoinShares, Slow Ventures, Goldcrest Capital |
| Past Founder Success | Matt Luongo and Corbin Pon previously founded Thesis and Keep Network. |
| Subsidiaries | Fold Inc., Fold Europe (Expansion) |
| Companies Founded by Team | 3+ (Thesis, Keep, Fold) |
| Other Team Investments | Founders are active in decentralized privacy and protocol development. |