Chennai
Giift, a global provider of loyalty management solutions, and Apis Partners, has acquired a significant strategic interest in Xoxoday, a fintech disruptor in the rewards, incentives and payout space.
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.
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 businesses by providing them with catalytic growth equity capital.
Xoxoday provides technology infrastructure to enable businesses to automate rewards, incentives and payouts across the value chain. Xoxoday will use the $30 mn (Rs 225 cr) 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. It took a pandemic to expose the gaps in the way businesses engage with people. It is inevitable that businesses invest in systems that align people, delight customers, and empower their partners.
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