Incentive marketing startup WeGift has closed its series B round at £26 million, with backing from fintech VC CommerzVentures among others.
WeGift's API-driven software platform is used by Nike, Airbnb, and Aldi together with some 100 other brands to easily disburse gift cards online, allowing end-customers to buy them as gifts or as loyalty rewards from a third-party business.
Last month, WeGift surpassed the 120-employee milestone and it's now readying its "all-in-one" gift card platform for further overseas expansion, with software that immediately loads gift cards with the right foreign currency.
WeGift closed $12 million last time out in a series A+ round held March 2021, again backed by CommerzVentures along with corporate investor Unilever Ventures, corporate fund SAP.iO Fund, and financial VCs AlbionVC and Stride.VC.
In the series B round, Element Ventures led with further commitments from AlbionVC, Clocktower Ventures, Volution Capital and SAP.