WeGift closes £26m Series B funding as demand surges
A new investor in WeGift, Element Ventures led the round with Albion Capital increasing our investments as an existing investor.
WeGift is at the forefront of the payouts revolution, making digital currency and stored value of any kind move more efficiently among organisations, merchants and individuals. The company has doubled revenue annually every year since its founding, and expects that trend to continue.
The new funding will be used to expand WeGift's digital currency network, support growth in new geographies – with a focus on North America – make key hires, and add new features and functionality to its already-robust solution. It comes at an exciting time for WeGift. The company surpassed 120 employees in October and recently announced major wins in new customers and brands added to its network. So far in 2022, WeGift has added well over 100 brands, including AirBnB, Nike, Instacart, Dunkin’, Aldi and many more. New customers include Mint Mobile, WishList, ThanksBen and Xoxoday.
Aron Alexander, WeGift CEO and founder said:
We’re building the world’s leading infrastructure for moving stored value, and these funds will help us accelerate our growth,” said . “Innovations in payouts have been few and far between, leading to solutions that no longer match the speed with which business operates. Our digital currency network gives corporate and platform users powerful tools to incentivize, reward, drive conversion, disburse funds and more.
Ed Lascelles, Partner at Albion, comments:
In this challenging market environment, Aron and his team have continued to scale digital payouts offering adding multiple blue-chip clients. We continue to be impressed with the vision and speed of execution, and are delighted to continue supporting the company on a mission to allow anyone to transfer digital currency freely across the globe.