Giift backed by Apis Partners Rebrands as Xoxoday Globally

Bengaluru, Karnataka — Two days ago, Giift, a prominent global player in AI-powered loyalty and rewards software-as-a-service (SaaS), unveiled its rebranding to Xoxoday (pronounced as Zozoday).

This significant strategic shift follows a robust expansion into international markets and a substantial investment of $70 million from Apis Growth Fund II, a private equity fund managed by the UK-based Apis Partners Group, known for its commitment to ESG and Impact-driven ventures.

Xoxoday is carving out its niche in employee recognition, sales incentives, and customer loyalty through a comprehensive range of SaaS products. The company has built a solid reputation as a trusted partner for over 5,000 organizations, which includes a diverse array of clients from start-ups to established Fortune 500 companies, such as Western Digital, Infosys, Nestle, Mercedes-Benz, and Adobe. Presently, Xoxoday boasts more than 65 million active users globally and manages around $1 billion in spending.

The rebranding to Xoxoday follows the company’s notable market penetration across regions including India, Southeast Asia, GCC, Africa, and North America. The new name reflects the company’s commitment to building core values of Trust, Appreciation, and Celebration among customers and employees alike.

In a statement, Sumit Khandelwal, CEO of Xoxoday, expressed enthusiasm about the future, saying, “Exciting times are ahead for our customers, partners, investors, and employees. With a 300-member engineering team, we are unlocking our full potential and offering one of the most advanced tech stacks in rewards, incentives, and loyalty. We are rolling out AI-powered features every fortnight to enhance our product experience.”

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Pascal Xatart, Chairman of the Board, also commented on the transformation, noting the company’s close collaboration with the Apis team to foster significant growth and broaden its geographical footprint. “We are thrilled to see these initiatives paving the way for the exciting new chapter of Xoxoday,” he remarked.

Co-founders of Apis Partners, Matteo Stefanel and Udayan Goyal, highlighted their continued commitment to supporting Xoxoday’s growth trajectory since their investment in 2021, stating their excitement for this next chapter.

Xoxoday continues to operate its innovation and development center in Bangalore, with a network of regional offices strategically located in San Francisco (USA), Colombo (Sri Lanka), Doha (Qatar), Dubai (UAE), Dublin (Ireland), Jakarta (Indonesia), Manila (Philippines), Singapore, Port Louis (Mauritius), and Riyadh (KSA). The company currently employs over 500 professionals globally.

As Xoxoday embarks on this new venture, it aims to enhance its services and offerings within the rapidly evolving landscape of rewards and recognition.

For more information, visit Xoxoday’s website or contact Kushal Agrawal, CMO at Xoxoday, for media inquiries at kushal@xoxoday.com.