Giift, a provider of loyalty management solutions around the globe, backed by Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, announced today that it has acquired a significant strategic interest in Xoxoday, a fintech disruptor in the rewards, incentives and payout space.
The company states that the partnership included both primary and secondary capital components, and the collaboration will enable both Giift and Xoxoday to enlarge their service offerings and collectively accelerate growth globally.
“We firmly believe that growth compounds with the right people and right partners. With Giift and Apis Partners on board, I can only see growth upwards and onwards from here. Giift’s loyalty infrastructure and Xoxoday’s rewards infrastructure, together, cover the length and breadth of business use cases across the entire lifecycle for employees, channel partners, and consumers.” Sumit Khandelwal, Co-founder & CEO Xoxoday, said.
Founded in 2012 by Sumit Khandelwal, Manoj Agarwal, Abhishek Kumar, and Kushal Agrawal, Xoxoday provides technology infrastructure to enable businesses to automate rewards, incentives & payouts for employees, customers & channel partners.
The company will use the investment to fuel the next stage of growth in international markets and upgrade the technology infrastructure required to serve the next set of billion users.
“Xoxoday is a unique and powerful loyalty platform for employee, sales and consumer rewards. Our partnership with Xoxoday will enable Giift to offer the most comprehensive engagement and loyalty solution available on the market, and represents a big step forward in our mission to create the global standard for the loyalty industry.” Laurent Xatart, Co-founder and CEO of Giift, said.
Every year US $100 mn+ rewards get distributed to 2.5 mn+ people across the value chain with Xoxoday’s rewards infrastructure. 2000+ businesses across the globe make every day of their growth story rewarding with Xoxoday.
“We are delighted to announce our partnership with Xoxoday. It is rare to see a business with such a strong founding team targeting such an under-invested opportunity. Xoxoday’s impressive and largely self-financed growth over the last decade is a testament to the sharp focus with which the team has been executing its plans.” Apis Partners Co-founder and Managing Partner Matteo Stefanel, said.