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---
description: Element Ventures led the November 2022 round, with funding earmarked for North American expansion, recruitment and additions to the payout network.
title: WeGift Raises £26 Million to Expand Its Digital Payout Platform
image: https://giftcard.news/images/social/v1/wegift-raises-26-million-expand-digital-payout-platform-763388b56399d6bad24364a016bfe90a.jpg
---

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3. WeGift Raises £26 Million to Expand Its Digital Payout Platform

[Industry Deals](https://giftcard.news/industry-deals/) News 

# WeGift Raises £26 Million to Expand Its Digital Payout Platform

Element Ventures led the November 2022 round, with funding earmarked for North American expansion, recruitment and additions to the payout network.

By [Oliver Reed](https://giftcard.news/author/oliver-reed/) Published: November 15, 2022 at 02:00 PM 2 min read 

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 Photo: Source: runa.io 

[WeGift](https://giftcard.news/company/runa/) announced a £26 million Series B financing on November 15, 2022, led by [Element Ventures](https://giftcard.news/company/element-ventures/). [Clocktower Ventures](https://giftcard.news/company/clocktower-ventures/) and [Volution](https://giftcard.news/company/volution/) joined the round, while existing investors [CommerzVentures](https://giftcard.news/company/commerzventures/), [AlbionVC](https://giftcard.news/company/albionvc/) and [SAP](https://giftcard.news/company/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.

The company said it had added more than 100 brands during 2022, including [Airbnb](https://giftcard.news/company/airbnb/)

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## Sources and documents

ExpandCollapse 
* [Runa, Formerly WeGift, Closes £26 Million Series B Funding as Demand for the Digital Payouts Platform Surges](https://runa.io/blog/wegift-announce-series-b?utm%5Fsource=giftcard.news) — runa.io

## In this article

### Companies

* [Airbnb](https://giftcard.news/company/airbnb/)
* [AlbionVC](https://giftcard.news/company/albionvc/)
* [Aldi](https://giftcard.news/company/aldi/)
* [Clocktower Ventures](https://giftcard.news/company/clocktower-ventures/)
* [CommerzVentures](https://giftcard.news/company/commerzventures/)
* [Dunkin](https://giftcard.news/company/dunkin/)
* [Element Ventures](https://giftcard.news/company/element-ventures/)
* [Instacart](https://giftcard.news/company/instacart/)
* [Mint Mobile](https://giftcard.news/company/mint-mobile/)
* [Nike](https://giftcard.news/company/nike/)
* [Rapyd](https://giftcard.news/company/rapyd/)
* [Runa](https://giftcard.news/company/runa/)
* [SAP](https://giftcard.news/company/sap/)
* [ThanksBen](https://giftcard.news/company/thanksben/)
* [Volution](https://giftcard.news/company/volution/)
* [WishList](https://giftcard.news/company/wishlist/)
* [Xoxoday](https://giftcard.news/company/xoxoday/)

### People

* [Aron Alexander](https://giftcard.news/person/aron-alexander/)
* [Ashley Stepien](https://giftcard.news/person/ashley-stepien/)
* [Brendan Miller](https://giftcard.news/person/brendan-miller/)
* [Robert Lang](https://giftcard.news/person/robert-lang/)

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![Portrait of Oliver Reed](https://giftcard.news/images/variants/v1/oliver-reed-editorial-portrait-w320.webp) 

About the author

## [Oliver Reed](https://giftcard.news/author/oliver-reed/)

Journalist — Industry Deals & Research

Oliver Reed covers industry acquisitions, investment and market research for Gift Card News.

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