Giftly enables users to send virtual gift cards and recommend up to three venues where recipients might redeem them. Recipients redeem Giftlys through a smartphone app that credits the sender’s amount to the recipient’s credit card without integrating with merchant APIs or credit-card companies. CEO Timothy Bentley says this approach lets Giftly work anywhere and avoids the need for a merchant-focused sales force. The company recently launched a "Gift Ideas" section and is employing curators to bundle activities and restaurants by city. Giftly’s model allows recipients to redeem funds immediately or at suggested venues; the service previously used phone location checks but dropped that requirement. Competitors mentioned include Giftiki and Treatful. Financially, Giftly announced an additional $600K raised, adding to a $1.8M round from last March.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2011