Giift, a leading provider of loyalty management solutions around the globe, backed by Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, announced today that it has acquired a significant strategic interest in Xoxoday, a fintech disruptor in the rewards, incentives and payout space. 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.

Xoxoday will use the US $30 million (225 crores INR) 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. 

Commenting on the round, Sumit Khandelwal, Co-founder & CEO Xoxoday, added, "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. 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."