QwikCilver operates gift-card and voucher solutions for retailers and corporate customers and runs a consumer-facing mobile gifting store (woohoo.in) and app. It provides B2B backend technology for plastic gift cards, loyalty cards, code programs and social media gifting. The company claims to be serving millions of customers and corporate employees in India and says 90% of organised retailers that launched gift cards are its clients. QwikCilver plans to use new capital to grow gift card adoption across brand partners, consumers, companies and institutions, and to enhance its SaaS technology platform. Management intends to enter newer categories and expand into the Middle East and Southeast Asia. The company aims to double the value of gift cards it sells to Rs 4,000 crore in the current financial year. QwikCilver operates a B2C e-commerce platform called Giftbig that enables consumers and corporate buyers to purchase gift cards and vouchers from various brands. It also supplies B2B backend technology for transactions involving plastic gift cards, loyalty cards, code programmes and social-media gifting. The firm says it serves millions of customers and corporate employees and claims 90% of organised retailers that have launched gift cards are its clients. QwikCilver reports over 150 employees and is on a 50 million transactions annual run rate. The company was founded in 2008 and is headquartered in Bangalore. Management plans to use new funds to scale the core business and enhance the company’s network across the region.

Total raised

$20M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2016