Accel & Helion-backed Qwikcilver forays into Singapore, lines up expansion to other SEA markets

As appeared in Deal Street Asia on 22 October 2017.

SaaS-based gift card solution provider Qwikcilver, a Bangalore-based company backed by VC investors like Accel India and Helion Partners, is foraying into Southeast Asia market (SEA).

“We are bullish on SEA market and has started with Singapore 2-3 months back as our base. We are also expanding across the regions like Indonesia, Thailand, Philippines and other parts of SE Asia,” Sadiq Ahamed, chief strategy officer at Qwikcilver told DEALSTREETASIA.

Sadiq AhamedIn Singapore, Qwikcilver has partnered with NETS, a payments company, to enable digital gift cards in malls and retailers across the country. It is also working with 99SME to enable gift cards for SMEs, and with Lazada for the gift cards to be sold on its site.

“NETS being a dominant player in Singapore, it helps us to reach all the retailers and malls in a single shot. In this market there are only paper based vouchers. There is immense opportunity to digitize gift cards here. It’s also a large and worthy market hence, we are expanding here,” Ahamed said.

Founded in 2008 by Kumar Sudarsan and Pratap TP, Qwikcilver was primarily started as a processor and is a SaaS-based prepaid card solution provider. The company is also engaged in the business of distributing gift cards to corporate and individuals through Woohoo.in, a firm which was launched in 2015.

“Early this year, we launched operations in Middle East, and after starting in Singapore, the company will focus on Indonesia and Malaysia,” said Ahamed. The company has offices in Dubai, Singapore and Bangalore.

“Middle East has turned out to be really good. It has been contributing a few percentage to the revenue of Qwikcilver. We also have signed up with 40-50 brands in Middle East including Sharaf DG, Al Futtaim group, Novo Cinemas, Emke Group and many more,” he added. So far, Qwikcilver has deployed its cloud technology platform across UAE, KSA, Kuwait, Bahrain, Qatar, Oman and Egypt.

Apart from Accel and Helion, Qwikcilver is backed by investors like Amazon and Sistema Fund. Last year in July, the company had raised $10 million led by Sistema Asia Fund, the proprietary fund of Russian conglomerate Sistema. In the round, existing investors like Amazon Asia-Pacific, Accel India and Helion Venture Partners also participated. Prior to that in 2015, it had raised $10 million from Amazon and others.

Ahamed further said that the company did not have any ‘requirement for fresh funding currently as it was already profitable’. “Right now, our focus is market expansion, whatever capital we have currently is what we are utilizing now,” he said.

“Qwikcilver is unique in India, Middle East and South East Asia. There is not a single player who provides end-to-end management of gift cards for brands. We have a 90 per cent share of the gift card market in India. The gift card market in the areas – Middle East and South East Asia – that we have penetrated is not fully evolved in fact we are building the market in Singapore and rest of South East Asia ground up. We are the dominant player right now,” he claimed.

Globally, Qwikcilver powers approximately 1.5 billion GMV worth of gift cards currently. Overall, around 100 million gift cards have been issued in the last three years and the company is expecting contribution of 20-25 per cent from South East Asia to its revenue in the next financial year.

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Why Not Gift The Whole World To Your Loved Ones This Diwali?

diwali gifts

Diwali – that magical, exciting, utterly bright and wonderful festival is here again. No matter what your journey has been over the year, the magic of Diwali makes everything feel fresh and lovely again. Old woes are forgotten and old hurts are forgiven. Everyone feels generous and happy during Diwali – it’s something to do with the bright lights, the firecrackers, and the smiles on peoples’ faces – you know it. So why not go all out and give the whole world to your loved ones this Diwali?

Why Do People Give and Receive Gifts during Diwali?

On this, the happiest holiday ever, people celebrate the victory of good over evil, of light over darkness. Everyone cleans their homes so that even the darkest corner gets some light. Beautiful lamps are lit everywhere, to dispel darkness and to bring in cheer and good fortune. Of course, people buy new clothes for themselves and their loved ones.

Along with sweets, people share their good fortune with each other through gifts. It is believed that gifting brings good luck during Diwali, as it pleases the Goddess of Wealth, Lakshmi. On Dhanteras especially, people gift gold and silver articles to please the goddess and invoke her blessings for a prosperous life.

What are the Popular Gifts During Diwali?

Gold and silver jewelry are considered to bring prosperity both to the giver and receiver, so many people shop for gold and silver articles during Diwali. Another diwali giftingpopular gift is apparel, as fine clothing is a sign of prosperity as well. Kitchen utensils, furniture, furnishings, food and books are preferred as gifts. Diwali is the biggest shopping holiday in India, when people line up at department stores to buy the choicest gifts for their loved ones. What do you plan on gifting your family this Diwali? Are you going to go the traditional route and buy gold coins for your wife or husband? Will you be investing in some real estate? Would you rather buy some rare and valuable books?

What Do You Plan On Gifting Your Loved Ones?

Diwali is that particular time when the giving is bigger than the giver. People take great pleasure in giving gifts, and not just in receiving them. However, there is no doubt that year after year, you might fall short of ideas to buy gifts for Diwali. You have been giving sweets, jewelry, and figurines as Diwali gifts all these years. Would like to gift something different this Diwali? Go for a gift card and give your loved ones the power of choice – a choice to pick the gift as per their own taste and convenience.

Best Diwali Gift Cards and E-Gift Cards to Buy

There’s no doubt the choice for gifts is immense at Woohoo.in. While buying something straight off your dear one’s wish list is the safest strategy, we think that you can consider their circumstances and their personality too. So, select a diwali gift cardsbrand that you know your gift recipient will favor. For example, if your wife loves jewelry, choose a gift card from CaratLane. If your son loves the latest cool jeans, give him a Levi’s or Myntra e-gift card. If you’re absolutely not sure what your gift recipient might like, stay on the safe side by opting for a gift card from a hypermarket brand like Lifestyle or Shoppers Stop. And, there is Woohoo gift card, the high-power gift card which can be redeemed against 100+ brand gift cards listed in Woohoo.in.

Or, what about gifting them experiences they’ll treasure, such as travel, a fine meal at a top restaurant and so on. Visit Woohoo.in and explore our many gifting categories and find the best Diwali gift cards. You will be glad you did.

Woohoo Gifting League

Gifting-league-Post-Diwali-2

With Woohoo Gifting League, the first of its kind gift card bonanza, you can win Woohoo points for every transaction on Woohoo.in or Woohoo app. Accumulate points & get exclusive benefits, privileges & gift cards worth up to Rs. 10000! So, start gifting, start collecting.

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5 Gifting Blunders to Avoid this Diwali

Diwali is around the corner. So, it’s the time to find the most fabulous, unique and perfect Diwali gift for your dear and near ones. Here are 5 gifting blunders that you simply must avoid over this Diwali. Make gifting a stress-free experience for your entire family. Check out the following points and you’ll soon know how to!

1. Expectations Crushed!

You know her really well but you aren’t exactly a mind reader! So you ended up gifting her something that simply didn’t meet her expectations. What was it, an electric spike buster or an iron, when she was probably expecting a silk scarf or jewelry? Like we said, no one can read minds. Yes, sometimes we do get it right, but we get it wrong pretty often too!

2. Excitement Dampened!

Ouch! All that excitement just burst out of him like bubbles out of soapy water! It’s really tough to watch someone you love look crushed after opening your gift. Of course, he or she may be too polite to let you know, but you know the truth. Your gift just didn’t make the cut, and your brother or dad or son just isn’t happy over it. And time after time, you wonder how to get the gifting process right.

3. Hey, She already has the same!

Oops! She’s already wearing the exact same cap on her head! What were you thinking? This happens more often than we realize. Our subconscious stores images of things we see our dear ones wear and we end up buying the same thing. To get it right, we need to observe our dear ones – what they like, what they wear and all that. It’s a busy world – do we really have time for that?

4. Definitely NOT a good choice.

What happens when you receive a gift that you would never have bought for yourself? And, do let us ask, would you ever consider gifting something that you would never buy for yourself? In retrospect, this sounds awful, but we do it all the time. With so many gifting occasions and so many gifts to choose from, we do end up gifting things we’d never want for ourselves.

5. Get It Wrong, And Watch The Fireworks Begin!

Most people accept gifts politely, but when you get it really wrong, some people just want to let you know how wrong. Don’t resent them for their honesty. There’s a lesson to be learned here and it’s this: it’s hard to know what people really want, so stop trying to second-guess. The wise thing to do is to spoil your gift recipients with multiple choices, and let them choose their own gifts!

Don’t Stress Over Finding The Perfect Gift

Gifting should be a stress-free and joyful experience. You can deliver complete gift satisfaction to your recipients by opting for a gift card. Woohoo.in is India’s largest gift cards superstore providing consumers quick access to gift cards from 100+ brands, both physical and e-gift cards.  If you’re absolutely not sure which brand your gift recipient might like, let your loved one be spoilt for choice with a Woohoo gift card. The recipient can use the Woohoo gift card to buy gift cards from the brands of their choice, be it apparels, accessories, jewellery, electronic gadgets or experiences ranging from holidays, dining to spa / salon treatments.

No more unmet expectations; no more receiving what he or she already owns; and no more inappropriate gifts. Each time, it’ll be the perfect gift, because through this Diwali gift card, you’re gifting them the joy of choosing their own gift as well.

Other Articles You Might Be Interested In:

6 Gifting Crimes

Planning your wedding? Here’s how you can receive wedding gifts that you will actually like and use

7 Housewarming Gifts That Only Add Clutter To A New Home!

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Karwa Chauth Is Coming Up – What Do You Plan To Gift Your Wife?

Karwa Chauth Gifts

Your wife – your precious, faithful, devoted wife. What would your life be like without her? We hope you’ll never have to find out. This Karwa Chauth, your wife will be fasting as she does every year, waiting to sight the moon before sampling her first bite of food from your hand. It’s a precious moment of reconnaissance between a husband and wife, a moment you both will feel profoundly. Make this moment last forever. Make this moment so significant that you both will cherish it forever. Gift her something unbelievably beautiful this year. Go on.

But What To Gift Her this Karwa Chauth?

Yep – that very same, age-old conundrum. Granted she is your precious wife and you know her better than anyone on this planet, but when it comes to gifting – well – it’s still a bit of a dilemma. So don’t waste time worrying. You may never get her choice right. The best thing to do here is to let her choose. The problem then is how to let her choose her own gift and yet keep the gift as a surprise? Yep, we understand this one too. That’s why we are here.

Do Some Due Diligence

What does she like? Is she fond of jewelry beyond all else? Clothes? Shoes? Books, smartphones, romantic meals with you in fancy restaurants, perhaps? It doesn’t take much time to find out what she truly likes and what she’d love to get as a gift from you. Try some domestic espionage – yes! Recruit your kids or younger siblings to find out what wifey dear has in mind for Karwa Chauth this year. Oh, there are many ways to get the info you want, so long as you are hell bent on making her happy!

Let’s Say You Simply Cannot Find Out What She Wants

gift a choiceHere’s the thing – even if absolutely cannot figure out what she wants, we’ve got you covered? How, you say? Consider this – let’s say your wife loves jewelry, fashion apparel, handbags and sunglasses. All you do is to get her a gift card from Lifestyle, Shoppers Stop, Westside, Big Bazaar or Marks and Spencer. Woohoo.in stocks gift cards and gift vouchers from many brands that offer a plethora of goods. Problem solved?

 

Check Out These Fabulous Karwa Chauth Gift Options

• Romantic dinner for two? Get her a Dining Gift Card. Let her spend the funds on the restaurant of her choice. Pure joy!

• A love for fashion? Just get her a Fashion Gift Card.

That’s not all – we have so many fantastic brands to choose from – Check out the top brand gift cards for Karwa Chauth. we guarantee that this will be the best Karwa Chauth you and your wife have had in years.

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