On February 23, 2022, Fintech Saas Startup Xoxoday received funding of USD 30 million (INR 225 crore). The funding comes from Giift, provider of loyalty management solutions and Apis Growth Fund II, a private equity fund managed by Apis Partners LLP.
The funding was a blend of primary and secondary capital components.
Xoxoday is a provider of infrastructure technology that deals in rewards, incentives and payout space.
The purpose of funding-
Xoxoday will use the USD 30 million funding to expand its business activities. Besides, they will upgrade the technology and infrastructure to serve its users.
The collaboration enables both Giift and Xoxoday to expand their offerings in the global market. They will collectively accelerate their growth globally.
What Xoxoday Founder has to say
Commenting on the recent funding, Sumit Khandelwal, CEO and Co-founder of Xoxoday, said, “We firmly believe that growth compounds with the right people and right partners. With Giift and Apis Partners on board, I can only see growth upwards and onwards from here. Giifts loyalty infrastructure and Xoxoday’sXoxoday’s rewards infrastructure, together, cover the length and breadth of business use cases across the entire lifecycle for employees, channel partners, and consumers. ” “
What the investors have to say
“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.” – Laurent Xatart, Co-founder and CEO, Gifft.
Matteo Stefanel, Co-founder and Managing Partner of Apis Partner said, “We are delighted to announce our partnership with Xoxoday. It is rare to see a business with such a strong founding team targeting such an under-invested opportunity. Xoxoday’sXoxoday’s impressive and largely self-financed growth over the last decade is a testament to the sharp focus with which the team has been executing its plans.”
Sumit Khandelwal, Manoj Agrawal, Abhishek Kumar and Kushal Agrawal are the founders of Xoxoday. It is a B2B company providing rewards, incentives and payouts. It works with more than 2000 clients in more than ten countries and has over 2.5 million users.
The company has three Saas offerings for its customers. Firstly, Plum is a horizontal platform providing automated rewards, incentives and payouts programmes at scale from the workflow. Secondly, they offer Empuls, a vertical program enabling organisations to build an engaging platform. The third is Compass which automates sales incentives and commissions for sales teams.
Xoxoday has four offices in San Francisco, Dublin, Singapore and Delhi.
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