Apis Partners has added a ninth asset to the investment firm’s second growth fund’s portfolio, buying a significant minority stake in a Singapore-based loyalty management solutions provider for $50 million. The private equity firm is the only investor participating in Giift’s Series C round, the capital from which will be used to expand its resources in Africa and the Asia Pacific region as it expands its regional sales and business development capabilities and builds market share in Europe and North America. No additional financial terms of the deal are being disclosed.
Giift was founded in 2013 by Laurent and Pascal Xatart to develop next-generation loyalty programs solutions for businesses. The founders spotted the opportunity to disrupt the loyalty market which traditionally features in-house points and redemption programs with an end-to-end loyalty technology that reduces touch points and covers all the needs of point issuers, users, and merchants. Today the company has sold its services to companies in more than 50 countries and offers its customers a choice of five distinct programs across its platform.
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