Digital gift card marketplace, GiftMe Jamaica, has raised funds at a valuation of US$1.8 million to build out its suite of products to assist local SMEs with their customer engagement, acquisition and retention infrastructure.

This feat was attained through deals struck with local investors, who saw tremendous upside in the startup which has generated millions of dollars in gift card sales in just 5 months.

”GiftMe has earmarked the funds to further develop its product which will offer new tools to SMEs that will completely digitize their customer inflows and outbound funnels.” said Rushio Billings, co-founder and CEO of GiftMe.

“Start-ups bootstrapping with a huge agenda tend to not grow fast enough to meet the resources needed to build and release, fast. Raising capital means that we will get to do all these things while increasing our salesforce to ensure that we become profitable,” Billings added. 

The funds were acquired on the basis of not only GiftMe’s commitment to the growth of local businesses but also in improving on and introducing new technological channels for the companies.

“We hope to show the Jamaican community that software as a service can be deployed and become a sustainable business in Jamaica (and then to the rest of the world). There are absolutely no limits,” Billings said. 

Launched earlier in June, GiftMe is a digital gift card marketplace founded in Jamaica, with a mission to enable businesses of all sizes to increase sales, retain customers and gain new ones, by unlocking new revenue channels through the use of e-gift cards.

The start-up company currently has over 85 businesses on its roster across various industries including food and beverage, entertainment, health and wellness and retail industries.

The merchants include Azans, General Foods, Liguanea Drug & Garden, Devon House, Totally Male, Cafe Blue, Uncorked, Chocolate Dreams, Carbys, Adam and Eve Day Spa, Face Place, Island Coffees, Cellar 8, Spaces Jamaica and many more.

GiftMe also has a corporate arm which helps companies increase staff engagement and customer loyalty through the use of e-gift cards.