Vouchagram
Vouchagram is a New Delhi-based digital gifting and e-voucher platform serving banking institutions, corporate houses, and individual consumers in India through its core platform and D2C sub-brand GyFTR.
- Company typePrivate
- Founded2012
- HeadquartersNew Delhi, India
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Vouchagram does
Vouchagram India Private Limited, incorporated under the Companies Act 1956 and headquartered in New Delhi, operates a digital gifting and e-voucher platform serving banking institutions, corporate houses, channel partners, brand partners, and individual consumers in India. Founded in 2012 by CEO Arvind Prabhakar, the company has built a two-sided marketplace anchored by a catalog of 190+ brand voucher options across categories including fashion, travel, restaurants, healthcare, and wellness, accessible through 55k retail stores via online integrations. The platform's product suite includes Client Solutions, Brand Solutions, Employee Gifting, Festive Gifting, Channel Incentives, White Label deployments, and Loyalty Programs, with a D2C sub-brand called GyFTR offering direct voucher purchases from 160+ brands to individual consumers.
The underlying technology centers on a digital e-gift voucher platform with API integration capabilities, online-to-offline infrastructure, multi-layered security architecture, and a real-time reporting system with customizable frequency and demographic tracking. Revenue is generated through three streams: transaction fees on e-gift voucher sales through the 190+ brand network, licensing and setup fees from white-label enterprise deployments, and direct-to-consumer sales via the GyFTR portal. The GTM motion is a combination of enterprise field sales targeting banks and corporate houses, API-first integration for embedded deployment in client R&R systems, and D2C e-commerce through GyFTR. Pricing is quote-based and not publicly disclosed.
The company claims 60% market share in India's CRM & Loyalty solutions segment, serving 200+ business clients and a reported 5M+ end customers. As of January 2026, Vouchagram operates as a wholly owned subsidiary of Mufin Pay, in which listed entity LKP Finance holds a 22% stake; the group is consolidating under the Gyftr brand, with plans to rename the listed entity Gyftr Limited and pivot from NBFC operations toward digital payments and rewards.
Vouchagram firmographics
Firmographics- Name
- Vouchagram
- Legal name
- Vouchagram India Private Limited
- Website
- https://vouchagram.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Vouchagram is a New Delhi-based digital gifting and e-voucher platform serving banking institutions, corporate houses, and individual consumers in India through its core platform and D2C sub-brand GyFTR.
- Ownership category
- akta.pro rank
Vouchagram industry classification
Industry- Product category
- Digital Gifting & Loyalty Platform
- NAICS
- Sales Financing (522220), Nondepository Credit Intermediation (5222), Sales Financing (52222)
- SIC
- Finance Services (6199), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Corporate & Incentive / Reward Prepaid Programs (FSAMANAD)
- akta.pro secondary industries
- Prepaid, Gift Cards & Voucher-Based Payments (MPAEALAE), Couponing, Rebates & Cash-Back Promotions (BPAFAMAI)
Keywords
Where Vouchagram is headquartered
LocationHeadquarters
- HQ city
- New Delhi
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Vouchagram business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations
Revenue model
- E-Gift Voucher Transactions: Revenue generated from sale of e-gift vouchers through the platform, operating on a transaction/fee basis where the company earns commissions on voucher sales processed through its network of 190+ brand partners
- White Label Solutions: Customized e-gift voucher solutions branded for enterprise clients, generating revenue through licensing and setup fees for white label deployments
- D2C Brand Voucher Sales: Direct-to-consumer sales of brand vouchers through GyFTR portal, enabling individual consumers to purchase gift vouchers from 160+ brands
Go-to-market motion3 records
Distribution channels4 records
Marketing channels4 records
Vouchagram product offering
Product offeringCore offering
Vouchagram operates a digital e-gift voucher platform that enables banking institutions and corporate houses to streamline loyalty programs, automate corporate gifting, and deliver instant digital vouchers to employees, channel partners, and clients. The platform aggregates 190+ brand vouchers across fashion, travel, restaurants, healthcare, and wellness, and offers API integration, white-label deployments, and a D2C consumer portal (GyFTR) for individual gift voucher purchases.
Product overview
Vouchagram operates as a digital gifting solutions platform with a multi-product portfolio centered on e-Gift Vouchers. The core platform (Vouchagram) provides the foundational technology for corporate gifting, loyalty programs, and reward redemption, while the D2C sub-brand GyFTR extends the platform to individual consumers with access to 160+ brand vouchers. The product suite includes Client Solutions and Brand Solutions as primary modules, with specific add-on modules for Client Gifting, Employee Gifting, Festive Gifting, Channel Incentives, White Label Solutions, and Online Brand Promotions. All solutions are built around a catalog of 190+ Gift Voucher options across nine categories (fashion, travel, restaurants, healthcare, wellness, and others), unified by the core technology for instant digital voucher delivery and redemption.
Differentiator
Problem solved
Functional benefit
Brands
- GyFTR: D2C portal offering brand vouchers from 160+ brands
Products and services
- Vouchagram Digital Gifting Platform A digital gifting and e-voucher platform that enables corporate houses and banking institutions to streamline loyalty programs, automate business gifting, and facilitate reward redemption through instant digital voucher delivery.
- GyFTR D2C Portal A direct-to-consumer portal offering brand vouchers from 160+ brands, enabling shoppers to purchase and redeem gift vouchers across multiple categories including fashion, travel, restaurants, healthcare, and wellness.
- Client Solutions End-to-end e-Gift Voucher solutions designed for corporate houses and startups to manage corporate gifting processes, with customizable features to match specific business needs.
- Brand Solutions Platform services enabling brands to sell their vouchers on Vouchagram's multiple portals, increase brand awareness, reinforce brand loyalty, and access customer lifecycle data through dedicated brand pages.
- White Label Solutions Customized e-gift voucher solution deployed as a microsite with branding matching the client's official website, including customer support, tailored communication channels, and options for points, coupons, or Gift Vouchers.
Quantifiable outcome
- Instant voucher delivery saves 100% of waiting time compared to traditional gifting
- +1 more outcomes
Companies that use Vouchagram
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles4 records
Vouchagram technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Vouchagram partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Mufin PaycoreMufin Pay owns 100% of Gyftr (Vouchagram). LKP Finance's 22% stake in Mufin Pay creates an integrated digital rewards infrastructure combining NBFC operations with digital payments and rewards platform.
- 190+ Brand PartnerscoreVouchagram has established partnerships with 190+ renowned brands spanning fashion, travel, restaurants, healthcare, and wellness categories. These brand partnerships enable the company to offer diverse gift voucher options to corporate clients and individual consumers through its platform.
- William PennminorLuxury writing instruments brand William Penn is one of the brand partners in Vouchagram's voucher catalog, offering premium gifting options to corporate clients.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Vouchagram competitors and assessment
Company assessmentBroad incumbents
- Blackhawk Network: Blackhawk Network is a global prepaid and gift card solutions provider operating across multiple geographies and verticals. Comparable to Vouchagram's voucher marketplace and distribution model, but at much larger scale and broader scope.
- Razorpay: Razorpay is India's largest payment gateway with expanding rewards and payouts products. Adjacent competitor that could leverage existing payment relationships with banks and corporates to enter B2B digital gifting.
- Amazon Pay (Gift Cards): Amazon Pay sells digital gift cards and corporate gifting solutions as part of its e-commerce platform. Comparable in digital voucher distribution but as a captive single-brand ecosystem rather than a multi-brand marketplace.
- Paytm (One97 Communications): Paytm offers digital payments, gift vouchers, and corporate rewards as part of its broader fintech ecosystem. Comparable in digital voucher distribution but operates at significantly larger scale and broader scope than Vouchagram.
Direct peers
- Reward360: Reward360 Global Services operates loyalty and rewards programs for banks, airlines, and enterprises across India and APAC. Directly comparable to Vouchagram in banking loyalty program management and reward redemption platforms.
- Tango Card: Tango Card (now part of Blackhawk Network) provides digital reward and gift card platforms for B2B reward programs. Comparable to Vouchagram in API-driven digital gifting for employee and channel incentive use cases.
- Xoxoday: Xoxoday provides digital rewards, recognition, and incentive solutions for enterprises globally, including gift cards, experiences, and wellness rewards. Comparable to Vouchagram in B2B digital gifting and employee rewards.
- Happay: Happay offers corporate expense management and prepaid card/rewards solutions to enterprises in India. Overlaps with Vouchagram in B2B prepaid voucher distribution and white-label deployments for corporate clients.
- Qwikcilver (Pine Labs): Qwikcilver, acquired by Pine Labs, is India's largest prepaid gift card and voucher platform serving enterprises and consumers with multi-brand catalog distribution. Directly comparable to Vouchagram as a B2B gift voucher distribution platform.
Emerging players
- Niyo (Goniyo): Niyo's Goniyo platform offers loyalty, rewards, and gift card solutions for Indian banks and enterprises. Comparable to Vouchagram in prepaid voucher distribution and corporate gifting for financial institutions.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Vouchagram social profiles
Digital presenceVouchagram compliance and trust
Trust signalCompliance1 record
Vouchagram financial estimates
Financial estimateRevenue estimate
Valuation estimate
Vouchagram leadership team
Management profileNumber of profiles
Profiles4 records
Vouchagram funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Vouchagram 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 Vouchagram
What does Vouchagram do?
Vouchagram operates a digital e-gift voucher platform that enables banking institutions and corporate houses to streamline loyalty programs, automate corporate gifting, and deliver instant digital vouchers to employees, channel partners, and clients. The platform aggregates 190+ brand vouchers across fashion, travel, restaurants, healthcare, and wellness, and offers API integration, white-label deployments, and a D2C consumer portal (GyFTR) for individual gift voucher purchases.
Is Vouchagram a public or private company?
Vouchagram is a private company. It is classified as corporate owned and is currently operating.
When was Vouchagram founded?
Vouchagram was founded in 2012. It employs 1 to 10 people.
Where is Vouchagram based?
Vouchagram is headquartered in New Delhi, India, in the Asia region.
How does Vouchagram make money?
Three revenue lines are on record. E-Gift Voucher Transactions are the primary driver. The others are white Label Solutions and D2C Brand Voucher Sales.
Who are Vouchagram's main competitors?
Broad incumbents on record are Blackhawk Network, Razorpay, Amazon Pay (Gift Cards) and Paytm (One97 Communications). Direct peers are Reward360, Tango Card, Xoxoday, Happay and Qwikcilver (Pine Labs). Niyo (Goniyo) is listed as an emerging player.
Does Vouchagram have an API?
No public API is recorded for Vouchagram.
What industry is Vouchagram in?
Vouchagram's product category is Digital Gifting & Loyalty Platform. Its primary akta.pro industry code is FSAMANAD, Corporate & Incentive / Reward Prepaid Programs, with a secondary code of MPAEALAE, Prepaid, Gift Cards & Voucher-Based Payments. Its NAICS code is 522220 and its SIC code is 6199.