WeGift closes additional financing in $12 million funding round backed by CommerzVentures

WeGift, a London, UK-based operating a B2B digital payouts platform, announced that it closed additional financing to its series A funding efforts.

The deal was made for accomodating a $4 million contribution from the new investor CommerzVentures, a German venture capital fund backed by Commerzbank. CommerzVentures joins existing investors, AlbionVC, who led the series A fundraise initially closed at $8M, as well as Stride.VC, SAP.iO Fund, and Unilever Ventures.

WeGift, founded in 2015 by Aron Alexander, developed a SAAS solution helping companies manage in one place the promotional campaigns. The tool is available as  a cloud-based, open API platform that allows businesses to automate sending digital incentives and providing competitive intelligence about the performance throughout their course.

Prior to series A, WeGift raised almost $8 million.