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Overview
Fold provides a fintech rewards program that lets users earn up to 20% cashback in bitcoin on every purchase. It uses prepaid cards for popular retailers that can be bought with either credit cards or bitcoin. Purchases can be paid with a traditional credit card or sent over the lightning network using bitcoin. The platform emphasizes user privacy, aiming to keep personal information, payment details, and transaction data secure from advertisers and attackers. Revenue comes from merchant partnerships and encouraging engagement with the rewards program. Compared with others, Fold stands out by offering direct bitcoin cashback, support for lightning-based payments, and a strong privacy focus alongside flexible payment options. The goal is to help more people use bitcoin in everyday spending and to grow a large, privacy-minded base of tech-savvy users and bitcoin enthusiasts through widespread merchant partnerships.
About Fold
Industries
Consumer Software
Fintech
Crypto & Web3
Financial Services
Company Size
11-50
Company Stage
IPO
Headquarters
Atlanta, Georgia
Founded
2014
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Simplify's Take
What believers are saying
- Fold repaid $20 million debt in June 2026 and kept $24.7 million cash.
- Kroger expanded Bitcoin Gift Card distribution in 2026, bringing Fold into mainstream retail.
- Management says credit-card per-swipe economics are profitable, with wider rollout planned for late summer 2026.
What critics are saying
- Nasdaq warned Fold on July 14, 2026; January 11, 2027 delisting deadline remains.
- The September 4, 2026 Roth facility fails if shares stay below $0.10.
- Prime Core litigation settled for 23.5 bitcoin, proving bankruptcy counterparties still extract value.
What makes Fold unique
- Fold is the only public Bitcoin rewards platform, combining consumer and employer products.
- Its Bitcoin Rewards Credit Card launched in May 2026 with Visa and Stripe infrastructure.
- Fold Business extends bitcoin bonuses and vesting to employers like Steak 'n Shake.
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Funding
Total Funding
$743.8M
Above
Industry Average
Funded Over
10 Rounds
Bessemer Venture Partners
Craft VenturesBenefits
Health Insurance
Vision Insurance
Dental Insurance
Health Savings Account/Flexible Spending Account
Remote Work Options
Flexible Work Hours
Paid Vacation
401(k) Company Match
Parental Leave
Company Equity
Growth & Insights and Company News
6 month growth
↑ 17%1 year growth
↑ 2%2 year growth
↑ 17%Fold Holdings has entered into a common stock purchase agreement with Roth Principal Investments, giving it the option to sell up to $25 million in newly issued shares over 36 months. The agreement, dated 4 September 2026, allows the company to direct share purchases at its discretion, with transactions priced at a 3% discount to VWAP during regular trading and 5% for pre-market and post-market sessions. The facility includes a $500,000 commitment fee and caps sales at approximately 20% of outstanding shares unless stockholder approval is obtained. Sales cannot occur if the closing price falls below $0.10 per share. Fold Holdings plans to use proceeds for product development, working capital, and general corporate purposes. The company retains full control over timing and amounts sold.
Fold Holdings is transitioning from a bitcoin transaction-focused model to a broader financial services platform aimed at deepening customer relationships. The strategy expands the company's addressable market beyond bitcoin-native users to anyone seeking a rewarding financial platform. Q2 performance was pressured by lower bitcoin prices, which reduced retail engagement and trading volumes. Revenue declined 26% year-over-year due to macro headwinds in the bitcoin ecosystem. The company eliminated $20 million in bitcoin-backed debt with Two Prime, reducing monthly interest expenses by approximately $145,000. It retained $25 million of unrestricted capital for operations and market volatility protection. Management plans a wider credit card rollout in late summer 2026. Early data shows per-swipe economics are already profitable. The company is leveraging new banking infrastructure via Lead Bank to participate in deposit economics and generate yield on customer assets. Operational expenses are expected to decrease in the second half through vendor and contractor eliminations.
Nasdaq-listed Fold Holdings sold approximately $45 million of Bitcoin at an average price of $71,000, about 14% above the current spot price of $62,200. The proceeds retired $20 million in Bitcoin-collateralised debt and freed $25 million for growth initiatives. The sale erased all secured debt and sent FLD shares up nearly 140% in premarket trading. This marks Fold's second balance sheet cleanup in four months, following February's $66.3 million convertible note extinguishment. The freed capital will fund the rollout of Fold's Bitcoin Credit Card, which launched fully in May. However, the company faces headwinds: first-quarter revenue fell 21.1% year-over-year to $5.6 million, whilst transaction volumes dropped 32%. Fold retains a meaningful Bitcoin treasury position but did not disclose remaining holdings.
Bitcoin financial services company Fold Holdings has eliminated $20 million of secured debt and secured $25 million of non-dilutive capital by monetising approximately $45 million of bitcoin at an average price of $118,000 per coin. The transactions strengthen the company's balance sheet whilst maintaining a meaningful bitcoin treasury position. The Phoenix-based firm, traded on NASDAQ under FLD, will use the unrestricted cash for growth initiatives across its consumer and enterprise platforms, including its recently launched Credit Card, Bitcoin Gift Card and Fold Business products. The company expects to introduce additional products in coming months. Chairman and CEO Will Reeves said the strengthened balance sheet provides resources and flexibility to execute plans during a pivotal moment for Fold, which describes itself as the first publicly traded bitcoin financial services company.
PHOENIX, June 10, 2026 -- Fold Holdings, Inc. , a bitcoin financial services company making it easy for individuals to earn, save and spend bitcoin through everyday financial tools, announced a...
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About Fold
Industries
Consumer Software
Fintech
Crypto & Web3
Financial Services
Company Size
11-50
Company Stage
IPO
Headquarters
Atlanta, Georgia
Founded
2014
Fold is Hiring for 1 Jobs on Simplify!
Find jobs on Simplify and start your career today