Fold Holdings Secures $150 Million Four-Year Facility to Scale Bitcoin Rewards Card
FLD•Fold Holdings secured a four-year, $150 million senior secured revolving credit facility from Encina Lender Finance, backed by consumer credit card receivables with an uncommitted accordion feature. The financing will fund expanded Bitcoin Credit Card origination and methodically scale the program to additional waitlist members without diluting equity.
1. Facility Structure and Terms
Fold Holdings entered a four-year, senior secured revolving credit facility with Encina Lender Finance for up to $150 million, including an uncommitted accordion feature. The facility is collateralized by a pool of consumer credit card receivables and provides dedicated, scalable growth capital for the company’s card origination.
2. Strategic Impact on Growth
The new financing is designed to extend Fold’s operational runway and support accelerating demand for its Bitcoin Credit Card without issuing new equity. By securing non-dilutive capital, the company can increase origination volume while maintaining a high-quality cardholder experience.
3. Bitcoin Credit Card Rollout and Features
Fold has begun issuing its Visa-based Bitcoin Credit Card to initial waitlist members and will expand distribution in scheduled batches over coming weeks. The card delivers up to 4% bitcoin back on eligible purchases, integrates with the Fold App for real-time tracking, and offers instant virtual card access via Apple Pay and Google Pay.
