Giift invests Rs 225 crore in Xoxoday in equity deal

Loyalty management solutions provider Giift has invested USD 30 million, about Rs 225 crore, for buying significant but undisclosed stake in fintech firm Xoxoday, the company said Wednesday.

Giift is backed by Apis Growth Fund II, a private equity fund managed by Apis Partners LLP.

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"Xoxoday will use the USD 30 million (Rs 225 crore) 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," the statement said.

The company provides technology infrastructure to enable businesses to automate rewards, incentives and payouts across the value chain.

"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," Giift co-founder and CEO Laurent Xatart said.