6 years ago
WeGift Raises £4 Million Series A to Disrupt Digital Rewards
WeGift, a UK-based startup that has developed a platform to let businesses easily issue e-gift cards and other digital rewards, has closed £4 million in Series A funding
The round was led by Stride.VC, with participation from SAP.iO fund, Unilever Ventures, James Hind, and Eamon Jubbawy
WeGift's previous backers include Alex Chesterman, Charlie Songhurst, Simon Franks, Ascension Ventures, and Fuel Ventures
The company plans to use the funding to scale its operations, expand to the US, and continue investing in its technology platform
WeGift's platform provides an open API to enable businesses to automate sending digital rewards, on-demand and in real-time, and offers instant access to a huge choice of rewards and payouts across 26 markets and 20 currencies
The company aims to disrupt the digital rewards industry, which is dominated in the US by two incumbents with a legacy in the physical gift card space.
ProblemTechnology
"Sending digital rewards and incentives to customers is a messy and fragmented industry with broken processes, prone to errors, and using outdated technology."
Solution
"WeGift provides an API-driven platform that automates the issuing of digital rewards, allowing businesses to send them on-demand and in real-time. It offers a vast network of brand partners, across multiple markets and currencies."