YOUGotaGift, a UAE-based company specializing in digital gifts, has announced the sale of 91% of its stake to the Japanese company giftee, in a deal valued at $26.6 million.
This acquisition allows giftee to expand into the digital gift card sector within the Gulf Cooperation Council (GCC) countries, while opening up global growth opportunities. giftee views its investment in YOUGotaGift as a vote of confidence in the rapidly growing prepaid card market in the Gulf, which is expected to reach $20 billion by 2028.
The current management team at YOUGotaGift will remain in place to ensure continuity and support the company’s ongoing growth. As part of the acquisition, shares from all existing stakeholders, including Middle East Venture Partners and HoneyBee Tech Ventures, will be purchased, transferring full ownership to giftee.
The deal is expected to close by the end of November, pending regulatory approvals and other customary conditions.
