Wrapp is a social gifting service jointly based in Stockholm, Sweden and San Francisco, California that enables people to give friends gift certificates and gift cards. The platform has more than 1 million users who have gifted over 15 million gift cards. Wrapp works with more than 200 retailers worldwide that provide gift cards through the service as a marketing channel. The company says the new funding follows a period of solid growth and plans to use the capital to expand in existing markets and evolve its product. Management says Wrapp will move beyond pure friend-to-friend gifting toward broader platforms and tools for businesses that serve those users. Total financing to date and operating metrics suggest the company is scaling both users and retail partnerships. Wrapp provides a social mobile gifting service that lets users sign in with Facebook to browse friends or events, select retailer gift offers, write greetings, schedule delivery, and contribute funds to gift cards. The company offers iPhone, Android and web apps and allows merchants to specify gift amounts and target specific demographic segments. Merchants gain an advertising platform and a way to drive online and brick-and-mortar traffic without paying unless consumers purchase. Wrapp reports rapid viral growth in Sweden, with more than 30% week-over-week growth, 2% of Facebook users in Sweden downloading the app, one percent of the Swedish population interacting after three months, and 250,000 gift cards used in December alone. It works with more than 35 large and medium-sized Swedish merchants, including Stadium, Elgiganten, LOVEFiLM, Björn Borg, WeSC and Clas Ohlson. The company intends to use new funding to launch in the U.S. and U.K. and to expand throughout Europe and additional major markets later in the year. Wrapp provides iPhone, Android and web apps that let users sign in via Facebook, browse friends or events, and send digital gift cards with customizable greetings, delivery dates and optional extra contributions. The app automatically lists available gift card offers for a selected friend and lets merchants specify offer amounts and target demographics. It also enables friends to collectively contribute funds toward gifts. Wrapp currently operates with a set of retail partners in Sweden, including Stadium, Björn Borg, WeSC and Clas Ohlson among others. The company plans to use new funding to expand into the U.S. and U.K., and has been reported as looking to partner with retailers like Best Buy and Target for launch. The article positions Wrapp within the large U.S. gift-card market (noting a $100 billion industry) as part of its growth opportunity.

Total raised

$26M

Funding rounds

3

Latest round

Series B

Latest activity

Jun 2013