About Giftbit
Giftbit is a company based in Victoria (Canada) founded in 2011.. Giftbit has raised $3.25 million across 4 funding rounds from investors including Techstars, Freestyle VC and Third Kind Venture Capital. Giftbit offers products and services including Gift Card API and Reward Catalog. Giftbit operates in a competitive market with competitors including Tango Card, InComm, Blackhawk Network, Ackroo and Xoxoday, among others.
- Headquarter Victoria, Canada
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Sectors
RetailTechnology
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$3.25 M (USD)
in 4 rounds
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Latest Funding Round
$2.1 M (USD), Seed
Feb 01, 2016
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Investors
Techstars
& 5 more
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Employee Count
Employee Count
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Products & Services of Giftbit
Giftbit offers a comprehensive portfolio of products and services, including Gift Card API and Reward Catalog. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables customized management of gift cards and rewards for businesses.
Offers global selection of reward options for audience engagement.
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Leadership Team
2 people
Product Management Team
1 people
Sales and Marketing
1 people
CX Team
1 people
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Funding Insights of Giftbit
Giftbit has successfully raised a total of $3.25M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $2.1 million completed in February 2016. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Seed — $2.1M
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First Round
First Round
(02 Nov 2013)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2016 | Amount | Seed - Giftbit | Valuation | Freestyle | |
| May, 2014 | Amount | Seed - Giftbit | Valuation |
investors |
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| Dec, 2013 | Amount | Angel Round - Giftbit | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Giftbit
Giftbit has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include Techstars, Freestyle VC and Third Kind Venture Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Freestyle VC is engaged in seed funding for tech startups.
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Founded Year | Domain | Location | |
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Startups are accelerated globally without sector restrictions through structured programs.
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Founded Year | Domain | Location | |
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Early-stage investments in finance and financial services are targeted.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Giftbit
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Giftbit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Giftbit Comparisons
Competitors of Giftbit
Giftbit operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Tango Card, InComm, Blackhawk Network, Ackroo and Xoxoday, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Digital gift cards are provided for enterprise incentive programs.
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| domain | founded_year | HQ Location |
Prepaid products and payment services are provided globally.
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| domain | founded_year | HQ Location |
Prepaid cards for employee financial benefits are provided.
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| domain | founded_year | HQ Location |
SaaS-based gift card and loyalty programs are provided for businesses.
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| domain | founded_year | HQ Location |
AI-powered loyalty, rewards, and employee engagement solutions are provided.
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| domain | founded_year | HQ Location |
Gift card and store value solutions are provided to businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Giftbit
Frequently Asked Questions about Giftbit
When was Giftbit founded?
Giftbit was founded in 2011 and raised its 1st funding round 2 years after it was founded.
Where is Giftbit located?
Giftbit is headquartered in Victoria, Canada. It is registered at Victoria, British Columbia, Canada.
Is Giftbit a funded company?
Giftbit is a funded company, having raised a total of $3.25M across 4 funding rounds to date.
What does Giftbit do?
Giftbit was founded in 2011 in Victoria, Canada, and operates in the fintech sector focused on gift card management. Services enable businesses to sell and redeem digital gift cards, with revenue collected directly by merchants without handling liability or breakage. Transaction charges and credit card fees are avoided. For unused funds, 50 is returned to the original buyer, supporting streamlined operations in e-commerce and rewards programs.
Who are the top competitors of Giftbit?
Giftbit's top competitors include Tango Card, Xoxoday and QwikCilver.
What products or services does Giftbit offer?
Giftbit offers Gift Card API and Reward Catalog.
Who are Giftbit's investors?
Giftbit has 6 investors. Key investors include Techstars, Freestyle VC, Third Kind Venture Capital, Acequia Capital, and Founders' Co-op.
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