Japanese company Giftee secures acquisition of Dubai-based digital gift card platform YouGotaGift for a sum of $28 million.
Giftee, a leading Japanese digital gifting platform, has made a strategic move to expand its presence in the Middle East by acquiring YOUGotaGift, the region's leading digital gift card marketplace. The deal, which closed on Friday, values YOUGotaGift at $30.9 million, with Giftee acquiring a 91% stake for $28.1 million.
The acquisition is a significant step for Giftee's international growth ambitions, as the Middle East's prepaid card market is expanding due to growing digital adoption and gift culture. With YOUGotaGift's strong presence in the UAE and Saudi Arabia, Giftee aims to tap into a regional market with significant growth potential in digital gift cards.
YOUGotaGift currently serves over 2,500 corporate clients, providing them with end-to-end digital gift card management solutions. Since 2021, the company has expanded its corporate portfolio by 30%, partnering with major regional institutions such as Saudi Basic Industries Corporation, Emirates Airlines, and various leading banks. Business customers can access comprehensive solutions including corporate gifting, employee rewards programs, and customer loyalty initiatives.
For individual customers, the platform provides digital gift cards through its HappyYou multi-brand card. The platform offers instant digital gift cards from over 1,000 regional and 5,000 international brands.
Husain Makiya, the CEO and founder of YOUGotaGift, holds the remaining 9% stake, which Giftee plans to acquire in the coming years. Importantly, YOUGotaGift's current management will remain on board, ensuring continuity and leveraging local expertise to effectively capture market opportunities.
This move aligns with Giftee's broader strategy of accelerating growth through regional diversification and expanding its footprint in key emerging markets within the prepaid and gifting sectors. With the acquisition of YOUGotaGift, Giftee is well-positioned to capitalise on the growing digital adoption and gift culture in the Middle East.
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