Xoxoday raises $30M from partners Giift and Apis to help companies make every day of their growth story rewarding

SAN FRANCISCO, February 23, 2022–(BUSINESS WIRE)–Giift, a leading provider of loyalty management solutions globally, backed by Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, today announced that it has acquired a stake strategic importance in Xoxoday, a fintech disruptor in the rewards, incentives and payments space. The partnership included both primary and secondary capital components, and the collaboration will enable both Giift and Xoxoday to expand their service offerings and collectively accelerate growth globally.

Xoxoday provides a technology infrastructure enabling companies to automate rewards, incentives and payments across the value chain. Xoxoday will use the US$30 million (INR 225 crore) investment to fuel the next stage of growth in international markets and upgrade the technology infrastructure needed to serve the next set of billions of users.

It took a pandemic to reveal the shortcomings in the way companies interact with people. It is inevitable that companies invest in systems that align people, delight customers and empower their partners.

The founders of Xoxoday were the forerunners in creating solutions that the world has just begun to consider. Almost a decade ago, the four founders, Sumit Khandelwal, Manoj Agarwal, Abishek Kumarand Kushal Agrawal, began their entrepreneurial journey by solving the complex everyday problem of human motivation using technology. With a first-principles approach, they redesigned how rewards, incentives, and payments work through branded currency. Today, through its platform, Xoxoday enables integrated, workflow-integrated rewards and incentives across the value chain. Since different business contexts demand tailor-made solutions, Xoxoday offers three SaaS offerings for the market.

• Plum, a horizontal platform infrastructure, automating rewards, incentives and payments programs at scale from the workflow.

• Empuls, a vertical platform for organizations to create an engaged workplace, where everyone is aligned, motivated, empowered and connected.

• Compass, a platform that automates and gamifies sales incentives and commissions for sales teams.

The story continues

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 allow 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 and CEO Xoxoday, added, “We strongly believe that growth is made up of the right people and the right partners. With Giift and Apis Partners on board, I can only see growth upwards and beyond from here. The Loyalty Infrastructure Giift and Xoxoday’s rewards infrastructure together span the full length and breadth of lifecycle business use cases for employees, channel partners and consumers.”

Manoj Agarwal, co-founder of Xoxoday, says, “While we’ve been busy enabling rewards, we feel like we’ve been rewarded today. However, it’s not just us. The real architects of Xoxoday have been our customers, employees and our partners, who are the ones who reward us every day with their trust. I would like to thank our teams, customers and partners who have helped us grow. I look forward to working with the Giift team and Apis Partners.”

Apis Partners Co-founder and managing partner Matteo Stefanel said, “We are thrilled to announce our partnership with Xoxoday. It is rare to see a company with such a strong founding team and targeting such an underinvested opportunity. Xoxoday’s impressive and largely self-funded growth over the past decade is a testament to the focus with which the team executed their plans.”

Udayan Goyal, co-founder and managing partner of Apis Partners added, “Following Apis’ recent partnership with Giift, we are very excited to expand our efforts in the rewards and loyalty industry with Xoxoday. The space that Xoxoday occupies is becoming a necessity around the world for enterprises, especially as the world shifts to a hybrid work environment. Convergence with financial services further leverages Apis’ industry expertise in fintech. We are excited to support them in the next phase of their growth.

About Xoxoday

Xoxoday is a fast-growing SaaS fintech company that powers business growth while focusing on human motivation. Xoxoday offers a suite of three products – Prune, Impulseand Compass. Xoxoday works with more than 2000 customers, in more than 10 countries and more than 2.5 million users. Headquartered in Bengaluru, Xoxoday is a 270 member strong team with four global offices in San Francisco, Dublin, Singapore and New Delhi. www.xoxoday.com

About the gift

Giift serves the multi-faceted loyalty industry through three primary functions, including loyalty issuance, loyalty redemption, and loyalty payment. Founded in 2013, Giift now operates over 50,000 programs in over 55 countries and over 130 million users. The company is headquartered in Singapore with offices in New York, London, Wuhan, San Francisco, Nairobi, Beijing, Mumbai, Dubai, Lagos, Jakarta, New Delhi, Doha, Dhaka and Colombo. www.giift.com

About Apis Partners

The Apis Group (“Apis”) is an ESGI-native global private equity and venture capital asset manager that supports growth-stage financial services and financial infrastructure companies by providing equity capital. catalytic growth. Collectively, Apis, through its team of approximately 30 professionals with deep industry expertise, manages or advises investors’ total committed capital (including raised and invested capital) of $1.2 billion. Americans. Including its head office in London, Apis is represented in seven countries in Europe, North, East and West Africa and South and South East Asia. www.apis.pe

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contacts

Xoxoday – Janani Rangarajan: [email protected] | +91 9884540050
Giift – Pascal Xatart: [email protected] | +44 7470 605 095
Apis Partners – Stephanie Mullard: [email protected] | +44 20 3653 050