WeGift Raises £26M in Series B Funding


WeGift, a London, UK-based digital payouts company, raised $26M in Series B funding.

The round was led by Element Ventures, Clocktower Ventures and Volution Capital with participation from CommerzVentures, AlbionVC and SAP.

The company intends to use the funds to expand its 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 solution.

Led by Aron Alexander, CEO and founder, WeGift enables some companies to disburse funds to the people they serve for rewards, refunds, rebates, remittances and more. Its network connects merchants, individuals and organisations to instantly send digital currencies.

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.