Giftee, a Japanese digital gifting platform has bought Dubai-based digital gift card marketplace YOUGotaGift.
The deal, which was announced earlier this month, closed on Friday with Giftee acquiring a 91% stake for $28.1 million, valuing the company at $30.9 million.
The remaining 9% stake is held by YouGotaGift’s CEO and founder Husain Makiya, who founded the company in 2013. Giftee plans to acquire this remaining stake in the coming years.
The acquisition resulted in a complete exit for previous investors, including Middle East Venture Partners (the largest shareholder), HoneyBee Tech Ventures, and Faith Capital.
It claims to be the Middle East’s leading digital gift card marketplace, with a strong presence in the UAE and Saudi Arabia.
For individual customers, the platform offers instant digital gift cards from over 1,000 regional and 5,000 international brands through its HappyYou multi-brand card.
Business customers can access comprehensive solutions including corporate gifting, employee rewards programs, and customer loyalty initiatives.
YouGotaGift currently serves over 2,500 corporate clients, providing them with end-to-end digital gift card management solutions. Since 2021, it has expanded its corporate portfolio by 30%, partnering with major regional institutions including Saudi Basic Industries Corporation, Emirates Airlines, and various leading banks.
The existing management team, led by Husain Makiya, will continue to operate the business. “With Giftee’s backing and international experience, we are excited to strengthen our regional leadership position and expand beyond the GCC,” said the CEO.
For Giftee, which currently operates in Japan, Malaysia, Indonesia, and Vietnam, this acquisition marks a strategic entry into the Middle East market.
“YouGotaGift provides the largest platform in the region for distributing e-gifts to individuals and corporations,” said Mutsumi Ota, CEO of Giftee.
“Since our businesses have much in common, we were able to share many things in a short time, including our medium to long-term visions and growth strategies.”
The acquisition aims to combine YouGotaGift’s regional expertise with Giftee’s international experience to enhance digital gift card solutions across markets, while strengthening its position in the GCC region.
