Giftbit
Giftbit is a B2B digital rewards platform and API enabling organizations to send digital gift cards and prepaid cards globally. It serves enterprise, SaaS, healthcare, education, non-profit, and SMB customers across 40+ countries via a no-fee, pay-only-for-face-value model.
- Company typePrivate
- Founded2011
- HeadquartersCalgary, Canada
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Giftbit does
Giftbit is a B2B digital rewards platform and API aggregator founded in 2011 by Leif Baradoy (current CEO) and Peter Locke in Victoria, Canada. The company enables organizations to send digital gift cards and prepaid cards at scale to recipients globally, serving as a unified distribution layer over a catalog of 1,500+ brands across 40+ countries with prepaid card support in 150+ countries. Giftbit's customer base spans six horizontal segments — enterprise organizations (including Medtronic), technology and SaaS firms, market research platforms, healthcare and education institutions, non-profits, and small-to-mid-sized businesses — with use cases covering employee recognition, sales incentives, marketing campaigns, customer loyalty, and research participation compensation.
The product portfolio centers on a self-serve web application, a RESTful API with a segregated Testbed sandbox environment, and a native Zapier integration that exposes Giftbit to 2,000+ third-party applications. Supporting products include Team Accounts (multi-department role-based access), Gift Links (shareable claim URLs), real-time Tracking & Reporting, Global Prepaid Cards, the Giftbit Visa Incentive Card (digital and physical), and a virtual Prepaid Mastercard, with digital wallet support via Google Pay, Apple Pay, and Samsung Pay. The technology stack emphasizes developer experience (company-reported integration in 'a few hours') and a security posture anchored by SOC 2 Type II, PCI SAQ-D, GDPR, CCPA, and ISO 27001-aligned encryption standards. Card issuance is enabled through partnerships with Sutton Bank and Pathward, N.A. (formerly MetaBank), with Marqeta powering the underlying prepaid card technology.
Giftbit operates a no-fee, pay-only-for-face-value pricing model with no subscription, minimums, or exclusivity contracts. Revenue is generated primarily through margin sharing with gift card brand partners and breakage on unclaimed promotional rewards (default 25%), supplemented by a 2.9% credit-card funding fee and small flat physical card processing fees. The go-to-market is API-first and product-led, combining self-serve access with an enterprise field-sales motion for high-volume senders (typically $10K+ spend) who receive custom pricing, margin sharing, and breakage arrangements under multi-year contracts. The company has disclosed approximately $3.1M in cumulative external funding across rounds in 2014 (~$900K), 2015 (~$118K, Techstars), 2016 ($2.1M led by Freestyle Capital with Acequia Capital, Alliance of Angels, Conconi Growth Partners, Founders' Co-op, Hedgewood, Third Kind Venture Capital, and Techstars), and a 2018 Tiny Capital investment, and remains privately held with no evidence of institutional PE or VC ownership.
Giftbit firmographics
Firmographics- Name
- Giftbit
- Legal name
- Giftbit Corp. and Giftbit Inc.
- Website
- https://giftbit.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Giftbit is a B2B digital rewards platform and API enabling organizations to send digital gift cards and prepaid cards globally. It serves enterprise, SaaS, healthcare, education, non-profit, and SMB customers across 40+ countries via a no-fee, pay-only-for-face-value model.
- Ownership category
- akta.pro rank
Giftbit industry classification
Industry- Product category
- Digital Rewards Platform
- NAICS
- Credit Card Issuing (522210), Credit Card Issuing (52221)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Rewards, Incentives & Gift Card Program Services (MPAAAIAG)
- akta.pro secondary industries
- Loyalty, Points Currency & Stored Value Payments (THALAHAK), Travel Money Cards & Multi-Currency Prepaid (FSAMANAI)
Keywords
Where Giftbit is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Giftbit business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Margin Sharing from Gift Card Partners: Giftbit earns revenue through partnerships with gift card and prepaid card brands that share a portion of the margin on transactions. This is the primary revenue mechanism alongside breakage sharing.
- Breakage on Unclaimed Promotional Rewards: When customers select promotional rewards with a claim-by date and the reward goes unspent, Giftbit retains a portion of the unclaimed value (default 25%). Standard (non-expiring) rewards do not incur breakage.
- Credit Card Funding Fee: A 2.9% fee applies only to credit card funding transactions. Bank wire/transfer, EFT, and direct debit are free for USD accounts.
- Physical Card Processing Fees: Small flat fees for specific physical prepaid card options: Physical USD Visa (6 month) $2.95, Physical USD Visa (12 month) $4.95, GBP Mastercard £1 per card, AUD Visa $2 AUD per card
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Free Platform Access - Pay only for face value of rewards sent |
| Transaction based/ take rate | Multi-year contract | Volume Discounts and Custom Pricing |
| Unit Pricing | Pay-as-you-go | Physical Card Options |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
Giftbit product offering
Product offeringCore offering
Giftbit is a B2B digital rewards platform and API that enables organizations to send bulk, personalized digital gift cards and prepaid cards globally. It aggregates a catalog of 1,500+ brand gift cards across 40+ countries (with prepaid card support in 150+ countries), and delivers rewards via email, SMS, shareable direct links, physical Visa cards, or developer API calls. The platform is offered with no subscription, platform fees, or minimums, and includes a sandbox environment, real-time tracking, and multi-currency funding from a single account.
Product overview
Giftbit is a B2B digital rewards platform and API aggregator that enables organizations to send bulk, personalized digital gift cards and prepaid cards globally. The core offering consists of the Giftbit Platform (web app) and Giftbit API, which work together to provide reward fulfillment capabilities. The platform integrates with the Global Reward Catalog containing 1,500+ brand options across 40+ countries, and supports prepaid cards for 150+ countries. Additional products include Zapier Integration for no-code automation, Team Accounts for multi-department collaboration, Gift Links for direct URL distribution, Tracking & Reporting for analytics, and various card products (Visa Incentive Cards, Prepaid Mastercard). The platform operates on a no-fee pricing model where customers pay only face value with no subscription, minimums, or contracts.
Differentiator
Problem solved
Functional benefit
Products and services
- Giftbit Platform Self-serve web application that enables organizations to create accounts, upload contact lists via CSV, build reward templates, and send bulk, personalized digital gift cards and prepaid cards globally, with real-time tracking, team accounts, customizable delivery, and comprehensive reporting. Targeted at organizations of all sizes that need to run employee recognition, sales incentive, customer loyalty, or marketing campaigns.
- Giftbit API RESTful API that lets developers embed reward sending directly into their own applications and workflows. Free to use with a segregated Testbed sandbox for safe testing, and production API keys for live rewards. Most teams can integrate in as little as one day. Targeted at developers, product teams, and engineering organizations that want to automate reward delivery.
- Global Reward Catalog Aggregated inventory of 1,500+ digital gift cards and prepaid cards from top global brands across retail, food, lifestyle, and charity sectors, with regional catalogs in 40+ countries and prepaid card options for 150+ countries. Used by senders to choose recipient rewards within the Giftbit Platform and API.
- Giftbit Visa Incentive Card Digital or physical prepaid Visa cards purchased by customers and sent to recipients in the USA, redeemable at participating merchants wherever Visa debit cards are accepted. Available in virtual and physical formats with various validity periods (6-month and 12-month options).
- Giftbit Prepaid Mastercard Virtual prepaid Mastercard issued by Pathward, N.A. for recipients, usable online, by phone, or in stores accepting mobile wallet, with validity of up to 6 months. Targeted at organizations sending prepaid rewards to recipients in markets served by the Mastercard network.
Quantifiable outcome
- 99% customer satisfaction rate for recipient support
- +3 more outcomes
Companies that use Giftbit
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles3 records
Giftbit technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
Feature6 records
Giftbit partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- VisacoreGiftbit offers Visa-branded prepaid incentive cards (digital and physical) that can be redeemed wherever Visa debit cards are accepted. Cards are issued by Sutton Bank and Pathward, N.A. under Visa license.
- MastercardcoreGiftbit offers Mastercard-branded virtual prepaid cards issued by Pathward, N.A. under Mastercard license. Cards can be used where Debit Mastercard is accepted online, for phone/mail orders, or in stores that accept mobile wallet.
- ZapiercoreIntegration partnership enabling Giftbit to connect with 2,000+ apps including HubSpot, Salesforce, Google Sheets, and HR tools like BambooHR, Slack, HiBob, Teams, Workday, and Greenhouse for automated reward triggering.
Scale indicators8 records
Recent moves4 records
Expansion highlights5 records
Giftbit competitors and assessment
Company assessmentDirect peers
- Tremendous: Tremendous is a leading digital rewards and incentives platform offering global gift card, prepaid card, and payout options to businesses. It is the closest direct competitor to Giftbit in terms of API-first delivery, global catalog breadth, and B2B enterprise targeting.
- Tango Card: Tango Card, now part of Blackhawk Network, operates a digital rewards and gift card platform very similar to Giftbit's RaaS model. It serves enterprise and SaaS customers with a global catalog and API-driven delivery, making it a tightly overlapping direct competitor.
- Rybbon: Rybbon (now part of Qualtrics) is a digital rewards platform used heavily by market research and customer experience teams for survey incentives. It overlaps directly with Giftbit's market research and customer feedback use cases.
- Giftogram: Giftogram is a digital gift card platform focused on bulk sending and fundraising/non-profit rewards with a no-subscription pricing model. It is closely comparable to Giftbit on business model, catalog breadth, and target SMB/mid-market senders.
Broad incumbents
- Blackhawk Network: Blackhawk Network is a large, established gift card and payments network that acquired Tango Card in 2021. It offers a much broader gift card distribution and stored-value portfolio than Giftbit, competing at enterprise scale across both catalog and prepaid products.
- Workhuman: Workhuman is a broader employee recognition and rewards platform that explicitly named Giftbit alongside itself in a 2026 'Best Employee Recognition Software' list. It overlaps with Giftbit on the recognition/rewards use case but bundles it with a much larger social recognition suite.
- O.C. Tanner: O.C. Tanner is an established employee recognition provider with a global rewards catalog and service-heavy enterprise offering. It competes with Giftbit in the enterprise recognition segment, though with a more services-led and higher-touch model.
- Reward Gateway: Reward Gateway is an employee engagement and rewards platform focused on SMB and mid-market employers, bundling recognition, wellbeing, and discounts. It is comparable to Giftbit on the SMB/enterprise recognition buyer but offers a broader engagement suite.
Emerging players
- Xoxoday: Xoxoday is a digital rewards, recognition, and employee engagement platform with global catalog coverage spanning 100+ countries. It competes with Giftbit primarily on the international rewards and employee engagement use cases, with a stronger emerging-market footprint.
- Empuls: Empuls is a digital employee engagement and rewards platform with a global gift card catalog and points-based recognition engine. It is an emerging competitor targeting similar SMB/mid-market recognition use cases as Giftbit.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Giftbit social profiles
Digital presenceGiftbit compliance and trust
Trust signalCompliance5 records
Giftbit financial estimates
Financial estimateRevenue estimate
Valuation estimate
Giftbit leadership team
Management profileNumber of profiles
Profiles6 records
Giftbit funding detail
Funding detailFunding overview
Funding rounds4 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Giftbit M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Giftbit
What does Giftbit do?
Giftbit is a B2B digital rewards platform and API that enables organizations to send bulk, personalized digital gift cards and prepaid cards globally. It aggregates a catalog of 1,500+ brand gift cards across 40+ countries (with prepaid card support in 150+ countries), and delivers rewards via email, SMS, shareable direct links, physical Visa cards, or developer API calls. The platform is offered with no subscription, platform fees, or minimums, and includes a sandbox environment, real-time tracking, and multi-currency funding from a single account.
Is Giftbit a public or private company?
Giftbit is a private company. It is classified as venture growth investor backed and is currently operating.
When was Giftbit founded?
Giftbit was founded in 2011. It employs 11 to 50 people.
Where is Giftbit based?
Giftbit is headquartered in Calgary, Canada, in the North America region.
How does Giftbit make money?
Four revenue lines are on record. Margin Sharing from Gift Card Partners are the primary driver. The others are breakage on Unclaimed Promotional Rewards, credit Card Funding Fee and physical Card Processing Fees.
Who are Giftbit's main competitors?
Direct peers on record are Tremendous, Tango Card, Rybbon and Giftogram. Broad incumbents are Blackhawk Network, Workhuman, O.C. Tanner and Reward Gateway. Emerging players are Xoxoday and Empuls.
Does Giftbit have an API?
Yes. Giftbit offers a RESTful API that enables developers to integrate reward sending into existing workflows. The API is free to use with no platform fees. Developers can access a test environment (Testbed) for building and testing integrations safely without touching real funds or production data. Most teams can get up and running in as little as one day. To move to production and send real rewards, users need to request a production API key. Developer documentation is at www.giftbit.com/api-documentation.
What industry is Giftbit in?
Giftbit's product category is Digital Rewards Platform. Its primary akta.pro industry code is MPAAAIAG, Rewards, Incentives & Gift Card Program Services, with a secondary code of THALAHAK, Loyalty, Points Currency & Stored Value Payments. Its NAICS code is 522210 and its SIC code is 6199.