Digital rewards platform WeGift has secured a £4m investment to boost its international growth plans.
The London firm’s first and latest round was led by Fred Destin from Stride.vc, with participation from SAP.iO fund and Unilever Ventures.
Established in 2016 by founder and CEO Aron Alexander, the WeGift platform automates incentives and rewards for employees.
The platform operates in more than 26 countries, in 22 languages, in 20 currencies, with over 500 brand partners and hundred. Its clients include employee perks platform Perkbox, New Look, Sodexo Engage and Halfords.
In addition to the fund raise, the firm has also announced new angel investors including James Hind, founder of Carwow and Eamon Jubbawy at Onfido.
“Historically businesses had to wait weeks to purchase and distribute digital rewards, using Excel spreadsheets,” said Alexander.
“WeGift helps companies intelligently automate this process to power new acquisition and retention opportunities.
“We are disrupting a broken market on a global scale, and this investment, together with our partnerships with Unilever Ventures, SAP.iO Fund and Stride.vc, is an instrumental step forward in achieving our vision.”
Ian Lane at Unilever Ventures added: “Our fund seeks out the most transformative technologies that have a potential to significantly impact supply chains and customer experience.
“In WeGift we see a huge opportunity to leverage their technology across the consumer goods industry.”
Nicole Dunn, Operations Director at Sodexo Engage, WeGift’s customer, added: “WeGift has direct partnerships with the world’s biggest brands including Nike, and so is able to negotiate the best possible deals for us. It’s a win-win for everyone.”