Digital gift cards market pioneer, YOUGotaGift, sells majority stake to international eGifting platform giftee Inc, cementing its leading position and unlocking global opportunities
- Homegrown brand YOUGotaGift marks 11 years in business by partnering with giftee
- Acquisition sets a new paradigm for growth and opportunity in the UAE, Saudi and the wider region
- YOUGotaGift strengthens its regional leadership position while planning international expansion
Dubai, United Arab Emirates, 11 November 2024: YOUGotaGift, the leading marketplace for digital gift cards in the Middle East since 2013, announced today on its 11th anniversary, an agreement to sell a 91% stake in the business to Japan-based giftee Inc (“giftee”) (TYO: 4449). This cross-border acquisition deal presents a significant opportunity to reinforce its leadership in the GCC’s digital gift card sector while unlocking global expansion opportunities.
giftee Inc, a leading eGifting platform with a strong presence in Japan, Malaysia, Indonesia and Vietnam, sees its investment as a vote of confidence in the GCC’s fast-growing payment prepaid cards market, which is expected to reach $20 billion by 2028
As a result of this acquisition, Giftee will gain a valuable footprint in the rapidly developing GCC region, benefit from the innovative digital gift card technology of YOUGotaGift and take the company to new international markets. YOUGotaGift will leverage giftee’s international expertise to introduce further innovations for its clients and customers across the region.
Husain Makiya, CEO & Co-founder, YOUGotaGift, said “11 years ago, in 2013, we pioneered digital gift cards from the UAE. Since then, we have built the GCC’s leading digital gift card business, expanding to Saudi Arabia and the wider Middle East region. Our passion for digital prepaid cards has earned us the reputation for being effective, trusted and innovative.”
Makiya continued, “Now, as we celebrate our 11-year anniversary, we are delighted to have attracted the attention of an international platform like giftee as we continue to help businesses and individuals to celebrate, reward, motivate and show appreciation. With the backing of giftee and their insights and international experience, we are excited to strengthen our regional leadership position, expand beyond the GCC and support our employees growth and development.”
Abdulkader Bibi (Abed), Co-founder, YOUGotaGift, added “Building YOUGotaGift into the region’s leading digital gift card marketplace has been a journey rooted in the vision of connecting people through meaningful rewards. Today, we are thrilled that our success story has resonated with giftee, creating a unique opportunity to showcase the strength of the GCC’s digital ecosystem on a global stage. This acquisition not only reflects the international potential of homegrown businesses like ours but also underscores the vast opportunities that lie within the region.”
Since its inception in 2013, YOUGotaGift has thrived within the UAE’s entrepreneurial ecosystem and has expanded across the GCC. In 2017, the company marked a growth milestone when it entered Saudi Arabia. It has since built a base of consumer and corporate clients, who benefit from YOUGotaGift’s world-class digital gift card marketplace that provides access to +1,000 regional and +5,000 international brands via its proprietary HappyYOU multi-brand card.
YOUGotaGift’s offering includes a wide array of industry solutions to over 2,500 corporate clients, facilitating gift card issuance, loyalty programs, and employee & customer rewards. Its seamless end-to-end digital gift card management — from issuance to distribution — solidifies its positioning as the GCC’s go to provider for digital gift cards.
Since 2021, the company has expanded its client portfolio by 30%. YOUGotaGift is now collaborating with leading institutions and government entities across the region including Saudi Basic Industries Corporation, Tasnee, Saudi Electricity Company, Saudi Awwal Bank, Saudi National Bank, Riyad Bank, Saudi Telecom Company, Abu Dhabi National Oil Company, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, E&, Emirates Airlines, Doha Bank, and National Bank of Kuwait.
Mutsumi Ota, CEO, giftee inc., said “We are very pleased to welcome YOUGotaGift, a leading e-gift company in the MENA region, into our group. YOUGotaGift has a wide range of gifts and provides the largest platform in the region for distributing e-gifts to individuals and corporations. In particular, its services for corporations have grown significantly, and while it has built a strong trading base by providing digital rewards to major banking, telecommunication & airline loyalty programs, it is rapidly expanding its business with new uses such as employee benefits. Since the businesses of both companies have much in common, we were able to share many things in a short time, including our medium- to long-term visions and growth strategies. In the future, we would like to work with YOUGotaGift to become a global e-gift platform that transcends each company’s respective regions of operation.”
This acquisition represents an important milestone for YOUGotaGift, reinforcing its leadership in the GCC’s digital gift card market. The existing management team, whose leadership has driven the company’s success, will remain in place to ensure continuity and ongoing growth.
As part of the acquisition, the shares of all existing shareholders, including Middle East Venture Partners and HoneyBee Tech Ventures, will be bought out thereby transferring ownership to Giftee.
The transaction is subject to regulatory approvals and other customary conditions and is expected to close by the end of November 2024.
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About YOUGotaGift
YOUGotaGift is the leading marketplace for digital gift cards, and the partner of choice for consumers and businesses in the Middle East. We are transforming prepaid cards to Branded Payments across gifting, incentives & payments to drive acquisition, build engagement, and increase loyalty. With value creation at its core, YOUGotaGift offers unparalleled consumer experiences, and incentives & merchant solutions for a network of 1,000+ Brands, 2,500+ Corporates including 50+ major Loyalty Programs.
About giftee Inc
Established in August 2010, giftee, inc. hails from Japan. The representative directors are Mutsumi Ota and Tatsuya Suzuki. giftee, inc. offers 4 services for consumers and businesses – giftee-C2C eGift service, eGift System, giftee for Business and eMachi platform-area revitalization platform.
More information can be found at https://giftee.co.jp
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