Faith Capital announced last week that it participated in the secondary share offering in YouGotaGift, the leading eGift distribution platform in the Middle East. With this new partnership in place, Faith Capital will now assist the company to scale across the broader GCC market.
YouGotaGift officially launched and took approximately six years to turn profitable. The company lists digital gift cards from more than 400 regional brands and delivers them straight into users’ email inbox or SMS.
It also has web and mobile apps that you can use to buy and share eGift Cards with friends, family, or employees.
YouGotaGift currently operates across three major verticals that include integration with loyalty programs, consumer gifting, as well as employee and customer rewards. Some of the popular brands listed by the company include heavyweights such as Careem, Noon, Lulu, Jarir, Saco, and Al Dawaa Pharmacies, among others.
“We at Faith Capital have kept an eye on technology companies looking to reinvent and digitize large fragmented offline markets. With so many players in the ecard space, YouGotaGift very clearly sets itself apart from the competition with its distinct module and rapid growth,” said Abdulaziz Al Loughani, Managing Partner of Faith Capital, after announcing the new tie-up.
Meanwhile, Husain Makiya, CEO of YouGotaGift, chipped in by saying that his company is currently among the front runners in the Gift Card industry, which is expected to grow to $700 billion globally by 2024.