Giift, which is backed by Apis Partners, has acquired Xoxoday, an India-based fintech SaaS firm. No financial terms were disclosed.
SINGAPORE, March 14, 2022 /PRNewswire/ — Giift, a leading provider of loyalty management solutions around the globe, announced today that it has acquired a majority interest in Xoxoday, an India-based fintech disruptor in the rewards, incentives, and payout space. Giift’s investment will enable Xoxoday to fuel the next stage of growth in international markets and upgrade its technology infrastructure. Giift and Xoxoday’s strategy is to advance its technology leadership, increase market penetration, and create the undisputed global standard for loyalty platform technology.
Xoxoday provides an advanced and scalable infrastructure platform that enables businesses of all sizes and industries to automate rewards, incentives, and payouts for employees, partners, and consumers. With a first-principles approach, the company reimagined how rewards, incentives, and payouts should work. Today, Xoxoday enables rewards and incentives to be embedded and integrated in the flow of work across the value chain. Since different business contexts demand tailored solutions, Xoxoday has three SaaS offerings for the market.
Plum, a horizontal platform infrastructure that automates rewards, incentives, perks, and payouts programs.
Empuls, a vertical platform that enables organizations to create an engaged workplace, where everyone is aligned, empowered, and connected through a continuous process of feedback and improvement.
Compass, a platform automating and gamifying sales incentives and commissions for sales teams.
Giift and Xoxoday’s combined technology platforms will cover the entire loyalty value chain. It will enable both companies to enlarge their service offerings and collectively accelerate growth globally. The Giift and Xoxoday SaaS platforms will cover the broadest available loyalty product suite, serving corporate programs with end-to-end loyalty technology, employee rewards and recognition programs, sales and channel incentives, merchant loyalty programs, and consumer incentive programs powered with a global marketplace.
Giift and Xoxoday jointly address all market segments and industries. From the largest global corporations to mid-sized domestic entities and local merchants, the combined platform helps attract and retain customers and incentivize employees and partners. Furthermore, the platform is industry and geography agnostic, with clients representing a broad array of industries including financial services, utilities, hospitality, consumer products, real estate, and pharmaceuticals, across the Americas, APAC, MENA, and Europe.
Co-Founder and CEO of Giift Laurent Xatart commented, “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.”
Sumit Khandelwal, Co-founder & CEO Xoxoday, added, “We firmly believe that growth compounds with the right people and right partners. With Giift and Apis Growth Fund II 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.”
Xoxoday is a rapidly growing fintech SaaS firm that propels business growth while focusing on human motivation. Xoxoday offers a suite of three products – Plum, Empuls, and Compass. Xoxoday works with more than 2000 clients, across 10+ countries and over 2.5 million users. Headquartered in Bengaluru, Xoxoday is a 270 member strong team with four global offices in San Francisco, Dublin, Singapore, New Delhi. www.xoxoday.com
Giift serves the multifaceted loyalty industry across three main functions including Loyalty Issuance, Loyalty Exchange, and Loyalty Payment. Founded in 2013, today Giift manages 50k+ programs across 55+ countries and over 130 million users. The company is headquartered in Singapore and has offices in New York, London, Wuhan, San Francisco, Nairobi, Beijing, Mumbai, Dubai, Lagos, Jakarta, New Delhi, Doha, Dhaka, and Colombo. www.giift.com