WeGift Raises £26 Million to Expand Its Digital Payout Platform

WeGift announced a £26 million Series B financing on November 15, 2022, led by Element Ventures. Clocktower Ventures and Volution joined the round, while existing investors CommerzVentures, AlbionVC and SAP increased their backing.

The London company said it would use the investment to expand its network of digital currencies and stored-value products, add platform features and recruit staff. Geographic expansion was also a priority, with North America identified as a particular focus.

At the time of the announcement, WeGift described a network operating across more than 30 countries and 20 currencies, with access to more than 1,500 brands. The platform supported business payouts including rewards, refunds, rebates and remittances.