Loyalty solutions provider Xoxoday raises $30mn from Giift, Apis Partners

The investment includes both primary and secondary capital components, and the collaboration will enable both Giift and Xoxoday to enlarge their service offerings and accelerate growth globally

Loyalty management solutions provider Giift, and Apis Partners backed by Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, announced that they have invested $30 million (Rs 225 crore) in acquiring a significant strategic stake in Xoxoday, a SaaS based fintech provider in the rewards, incentives and payout space.

The investment includes 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.

Sumit Khandelwal, Co-founder & CEO Xoxoday, said, "We firmly believe that growth compounds with the right people and right partners. With