Retain24

What Retain24 does

Retain24 Sverige AB is a Swedish B2B SaaS company that operates an electronic gift card management platform, described by the company as Scandinavia's largest gift card system. Founded in 2005 and headquartered in Stockholm, the company was acquired by loyalty-program operator Awardit AB on October 1, 2019, and continues to operate as a wholly-owned subsidiary under founder and CEO Claudio Simatovic. The platform enables retailers, travel companies, hotels, restaurants, and other consumer-facing businesses to issue, distribute, redeem, and reconcile electronic gift cards across physical stores (POS), e-commerce, and mobile channels, with delivery options via physical card, email, SMS, and mobile wallet. The system also handles cross-store clearing for franchised operations and includes environmentally friendly FSC-certified paper-based cards; mobility and open-loop capabilities are provided through subsidiaries Verifylr International AB (mobile coupons and mobile gift cards) and Presend Nordic AB (Visa/Mastercard-based prepaid cards).

The core technology is a cloud-based gift card management system that integrates with major Scandinavian POS providers (NCR, LS Retail, Sitoo, Yabie, Norce) and e-commerce platforms (Storm Commerce, Avensia), providing real-time balance, expiration tracking, and operational reporting across issuance and redemption. The platform serves approximately 130 brand customers including Jula, Ving, Stadium, McDonald's, Interflora, TUI, Apotek Hjärtat, Granngården, Swedol, Lekia, Harrys, Waynes Coffee, and Bastard Burgers, spanning retail, travel, hospitality, and food service verticals primarily in Sweden, Norway, Denmark, and Finland with select expansion into Poland.

Retain24 generates revenue through multiple streams: subscription or licensing fees for access to the gift card system, transaction processing fees for sales and redemptions, fees for cross-store clearing settlements, physical card production and design services, and commissions or fees from reseller partners such as Blackhawk Network, GoGift, Huuray, Pressbyrån, and 7-Eleven that distribute gift cards to consumers. Go-to-market combines direct enterprise sales, OEM/embedded partnerships with POS and e-commerce platforms, and a reseller/loyalty distribution channel that includes Awardit's network of approximately 60 loyalty and points shops reaching 13 million Nordic members. Pricing is not publicly disclosed and is quote-based, tailored to each customer's scale and integration requirements.

Name

Retain24

Legal name

Retain24 Sverige AB

Website

https://retain24.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Retain24 Sverige AB is a Stockholm-based B2B SaaS provider of Scandinavia's largest electronic gift card management platform, serving approximately 130 brands across retail, travel, hospitality, and food service with POS, e-commerce, and mobile integration plus a partner reseller network.

Ownership category

akta.pro rank

Product category

Gift Card Management Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Greeting Card Publishers (513191)

akta.pro primary industry

Gift Card Processing, Issuance Platforms & Aggregators (FSAMANAL)

akta.pro secondary industries

Digital Goods & Gift Card Generalist Marketplaces (CRAFAAAJ), Closed-Loop Gift Cards (Single-Merchant) (FSAMANAB), Rewards Marketplace & Redemption Platforms (Merchandise, Gift Cards, Experiences) (THALAKAC)

Keywords

• Gift card management
• Electronic gift cards
• Gift card platform
• POS integration
• Retail technology

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Gift Card System Licensing/Subscription: Companies pay for access to Retain24's gift card system for issuance, redemption, and management of gift cards across their retail network.
2. Transaction Processing Fees: Fees for processing gift card transactions including sales, redemptions, and cross-store clearing settlements.
3. Physical Card Production: Production of physical gift cards, card holders, and packaging materials. Includes design services and customization.
4. Reseller/Broker Fees: Revenue from retailers who purchase gift cards through the reseller network to sell to consumers.

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Retain24 provides a SaaS gift card management platform that enables businesses to issue, distribute, redeem, and reconcile electronic gift cards across physical stores (POS), e-commerce, and mobile channels from a single integrated system. The platform also includes physical gift card production services (including FSC-certified eco-friendly paper cards), cross-store clearing for franchised operations, and access to a partner reseller network for expanded distribution across Scandinavia.

Product overview

Retain24 operates as a B2B SaaS gift card management platform built around its core Electronic Gift Card System (Elektroniskt Presentkortssystem). The platform provides a unified system for issuing, distributing, redeeming, and clearing electronic gift cards across multiple channels — physical stores (POS/instore), e-commerce (online), and mobile — with real-time value tracking and reporting. Additional services include physical Gift Card Production (including FSC-certified eco-friendly paper cards) and access to a Partner Reseller Network for extended distribution through loyalty programs, B2B reward shops, and promotional platforms. The company also offers mobile gift card capabilities via its Verifylr subsidiary. The platform serves approximately 130 brands primarily in retail, travel, hospitality, and food service sectors across the Nordic region.

Differentiator

Problem solved

Functional benefit

Products and services

• Electronic Gift Card System (Retain24 Gift Card System) Core SaaS gift card management platform enabling businesses to issue, distribute, redeem, and reconcile electronic gift cards across physical stores, e-commerce, and mobile channels from a single integrated system. Works equally well in physical stores and web shops with integrated or standalone solutions in POS or web shop, enabling gift card redemption via store card terminals with real-time value and expiration information for staff and customers.
• Gift Card Production Services Physical gift card design, printing, and fulfillment services including environmentally-friendly FSC-certified organic paper-based cards (free from PVC, 100% recyclable, biodegradable, and compostable), card carriers, holders, and packaging materials as part of a complete end-to-end gift card solution.
• Partner Reseller Network A network of third-party resellers and distribution channels including loyalty programs, B2B reward shops, retail chains, and promotional platforms (including Pressbyrån, 7-Eleven, Blackhawk Network, GoGift, Huuray, and Sponsorhuset) that enable gift card sales in thousands of additional physical and digital locations, reaching millions of consumers per week.
• Mobile Gift Card Solutions (via Verifylr) Mobile delivery and wallet integration for gift cards allowing consumers to receive, store, and redeem digital gift cards via mobile email, SMS, and mobile wallet applications, including mobile lock screen promotions through subsidiary Verifylr International AB.

Quantifiable outcome

• 5-15% of customers visiting stores with gift cards are new customers
• +4 more outcomes

Named customers17 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• NCRcoreTechnology or IntegrationPOS system integration partner for gift card processing in physical retail locations.
• LS RetailcoreTechnology or IntegrationPOS system integration partner for gift card processing.
• SitoocoreTechnology or IntegrationPOS system integration partner for unified commerce gift card solutions.
• NorcecoreTechnology or IntegrationCommerce platform integration partner for gift card solutions.
• Storm CommercecoreTechnology or IntegrationE-commerce platform integration partner for online gift card sales.
• Blackhawk NetworkcoreChannel Partner/ Reseller/ DistributorInternational gift card reseller reaching millions of consumers globally.
• GoGiftcoreChannel Partner/ Reseller/ DistributorGift card reseller/distributor across Scandinavia.
• HuuraycoreChannel Partner/ Reseller/ DistributorDigital gift card retailer for stores, webshops and experiences across Scandinavia.
• SponsorhusetminorChannel Partner/ Reseller/ DistributorReseller channel for gift cards through loyalty/reward programs.
• MecenatminorGTM or Marketing PartnerStudent discount partnership enabling Retain24 customers to reach over 1 million students with mobile offers and discount coupons via the Mecenat app.
• RcheryminorGTM or Marketing PartnerMobile lock screen promotion partnership through subsidiary Verifylr, enabling mobile gift cards as rewards.
• Olav Thon GruppenminorStrategic or Co-development PartnerShopping center gift card program partnership through subsidiary Presend, expanded to include all Olav Thon shopping centers in Sweden.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Givex: Givex provides a SaaS gift card, loyalty, and stored value platform for retailers and restaurants globally. It is the closest direct comparable to Retain24 in product offering (issuance, redemption, clearing) and customer verticals.
• Tango Card: Tango Card operates a B2B rewards and gift card delivery platform serving enterprise and SMB customers. It is comparable to Retain24 on the rewards/gift card distribution side and serves overlapping use cases (employee rewards, customer incentives).
• Blackhawk Network: Blackhawk Network is one of the world's largest gift card distribution and processing networks, with both retail distribution and a B2B technology platform. It is a direct competitor to Retain24 on gift card issuance and also serves as one of Retain24's distribution partners in international markets.
• Huuray: Huuray is a Scandinavian digital gift card retailer for stores, webshops and experiences. It is both a Retain24 distribution partner and a partial competitor in the digital gift card retail and B2B rewards space across the Nordics.
• GoGift: GoGift is a Nordic and European gift card distributor with strong enterprise/B2B rewards offerings. It functions both as a Retain24 partner and as an overlapping competitor in Scandinavian gift card distribution and corporate reward programs.

Broad incumbents

• InComm Payments: InComm is a global prepaid and gift card technology company offering a broad portfolio spanning card processing, distribution, and retail experiences. It competes with Retain24 in gift card processing but operates at much larger scale and across more verticals.
• Edenred: Edenred is a global leader in employee benefits and prepaid solutions including gift cards and corporate rewards. It overlaps with Retain24 in the B2B/corporate gift card use case but operates as a much larger incumbent with broader benefit infrastructure.
• Pluxee (Sodexo Benefits & Rewards): Pluxee is the spun-off Sodexo benefits and rewards business, providing prepaid, gift card, and employee engagement solutions globally. Comparable to Retain24 in the corporate/employee gift card use case, though much larger and more diversified.
• PaySafe: PaySafe operates a digital payments and prepaid solutions platform that includes gift card and stored value products. It is comparable to Retain24 on stored value / prepaid processing, though it operates at substantially larger global scale.

Others

• Valitor: Valitor is a Nordic payment processor that partnered with Retain24's subsidiary Presend on Mastercard/Visa-based gift and prepaid card programs. It is comparable as an adjacent payment infrastructure provider enabling Retain24's prepaid card offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Retain24
• LinkedInlinkedin.com/company/retain24-sverige-ab

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Retain24