Giift, a provider of loyalty management solutions around the globe, backed by Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, has acquired a significant strategic interest in Xoxoday, a fintech company.

The partnership included 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, said a statement.

Xoxoday provides technology infrastructure to enable businesses to automate rewards, incentives and payouts across the value chain. Xoxoday will use the $30 million 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.

It took a pandemic to expose the gaps in the way businesses engage with people. It is inevitable that businesses invest in systems thatalign people, delight customers, and empower their partners.

“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 of Giift .

“We firmly believe in the 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. Giift’s loyalty infrastructure and Xoxoday’s rewards infrastructure, together, cover the length and breadth of business use cases across the entire lifecycle for employees, channel partners and consumers,” Sumit Khandelwal, co-founder and CEO Xoxoday.