Apis invests $50m in Singapore loyalty program start-up

Giift is touted as a global leader in loyalty management solutions with end-to-end loyalty technology that reduces touch points and covers all the needs of point issuers, users, and merchants. It manages more than 50,000 programs across some 55 countries with over 130 million users.

The company’s five core products include a business management system that covers routine transactional rewards as well as customized services, a rewards redemption marketplace, a user engagement service, a coupon-sharing platform, and a payments processor.

In addition to Singapore, Giift has 14 offices globally, with bases in Wuhan, Beijing, Mumbai, Jakarta, New Delhi, Dhaka, and Colombo. The fresh capital will be used to expand the staff in Asia and Africa and for a sales push in North America and Europe. The company will also invest in technology.

“As loyalty programs are becoming a critical component to business’ go-to-market strategies, this was the perfect time for us to invest in Giift, which we see as a market leader in this field,” Udayan Goyal, a co-founder and managing partner at Apis, said in a statement.

Apis, an impact and financial technology-focused investor, identified Giift as a financial inclusion investment, noting that the start-up supports electronic payment infrastructure in emerging regions. The UK-headquartered GP is investing via its Apis Growth Fund II, which closed on USD 563m in late 2019, beating a target of USD 400m.

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• Topics
• Southeast Asia
• Financials
• Expansion
• Technology
• Singapore
• Apis Partners
• Financial Services
• TMT
• Growth capital