Faith Capital invests in Dubai-based online eGift Card company: YouGotaGift
Faith Capital announced today their recent participation in the secondary share offering in YouGotaGift, the Middle East's leading eGift Card distribution company. Faith Capital aims to support in their further scale across the GCC.
Launched in 2012, turned profitable in 2018, YouGotaGift is a digital Gift Card platform offering an unparalleled choice of top regional brands (400+) delivered instantly by Email, SMS & App. Individuals and businesses use their web and mobile applications to buy and distribute eGift Cards to family, friends, employees, and customers. Operating across three major business verticals including Consumer Gifting, Employee and Customer Rewards, integration with loyal programs, their end-to-end digital solution serves as a one-stop-shop, connecting major brands like Noon, Carrefour, Lulu, Centrepoint, Jarir, Saco, Al Dawaa Pharmacies, Careem, iTunes to major corporate clients including banks, telecommunications, government and private enterprises in the GCC and beyond.
“We at Faith Capital have kept an eye on technology companies looking to reinvent and digitize large fragmented offline markets. With so many players in the ecard space, YouGotaGift very clearly sets itself apart from the competition with its distinct module and rapid growth,” said Abdulaziz Al Loughani Managing Partner of Faith Capital. “We are proud to partner with innovative entrepreneurs like Husain Makiya, and naturally, Faith Capital looks forward to adding significant value as the company expands into additional GCC markets and scales up the operation”.
“'YouGotaGift is disrupting the Gift Card industry in the Middle East. As an end-end digital business, it is leading the cultural shift to digital gifting for consumers and transforming the procurement & distribution of bulk rewards for businesses.” said Husain Makiya, CEO of YouGotaGift. “It is operating in an industry predicted to grow to $700bn globally by 2024”.
“Faith Capital has previously invested in e-gifting businesses, and hopes to further explore new verticals in this space with YouGotaGift,” Reem Al Mustafa Venture Analyst. "Husain is an exceptional founder whose track record in running successful MENA businesses demonstrates strong founder-market fit.”
Faith Capital Holding is a Kuwaiti Venture Capital firm specializing in technology comapnies.
Are you a startup looking for investment? Apply for funding to 70+ investors now.
Saudi Arabia saw a record amount of startup funding and deals in 2019 and continues to grow as one of MENA's thriving startup ecosystems. Find out more details on how it is getting there in our new 2019 Saudi Arabia Venture Investment Report.