We are delighted to welcome Fold to the Fulgur Ventures portfolio. Founded in 2019 by Will Reeves, Corbin Pon, and Matt Luongo, Fold has built the most consumer-friendly way for Americans to stack bitcoin without thinking about it. Through a debit card and rewards program integrated with major retailers, Fold turns ordinary spending, groceries, gas, coffee, travel, into a steady stream of sats earned in the background of normal life.

Fold's core insight is that the path to mass Bitcoin adoption does not run through speculation, it runs through habit. Cashback in bitcoin reframes saving as something you already do every time you tap a card, with rewards reaching as high as twenty percent at participating merchants. That mechanic is uniquely effective for users who want exposure to bitcoin but are not yet comfortable opening an exchange account or managing keys.

The Fulgur thesis has always emphasized that consumer Bitcoin financial services will be a massive category, and Fold is one of the clearest expressions of that idea in the United States. The company went public via SPAC in 2025, becoming a publicly traded pure-play on consumer bitcoin accumulation, a meaningful milestone for the industry and a vote of confidence from public markets in this model.

We back founders who treat Bitcoin as a generational platform and consumers as their north star. Fold checks both boxes. As more Americans look for non-custodial paths to ownership and as Lightning unlocks new reward and payment mechanics, we are excited to support the team as they keep redefining what a Bitcoin-first financial services brand looks like.