Gift card marketplace Raise picks up $60m Series C

Gift card e-commerce platform Raise Marketplace has reportedly picked up a $60m Series C round led by Accel.

Other contributions to the round came from PayPal, New Enterprise Associates and Bessemer Venture Partners, according to various articles in the media.

Chicago-based Raise is a marketplace for online gift cards which allow consumers to buy discounted gift cards from over 3,000 brands or sell unwanted cards. Founded in 2013 the company has 2 million buyers and sellers and helped people make savings of $140m, according to the company.

The platform has a one-year money-back guarantee warranty to ensure people can be refunded if a purchase is not as described.

This capital injection will be used to accelerate development of a mobile payments network, which will be launched in the future, the article said.

California-based Venture Capital firm Accel led the $88m Series D round in to digital identity management company ForgeRock, earlier this month. In June the firm led the $11m Series A in to multi-user spending account Soldo.

Total funding raised by the company has now reached around $136m, with the company Series B picking up $56M in 2015. The previous round was led by Bessemer Venture Partners, the Pritzker Organization and Listen Ventures, among others.

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