Qwikcilver is a technology company in India delivering gift card and stored-value card solutions to retail customers. Qwikcilver is one of the leading providers of retailer gift cards and employee reward cards in India. It manages the entire gift card programme for retailers including design, storage and transactions pertaining to it. The company also launched Woohoo.in and Woohoo App as its B2C platforms that enable consumers and corporate to purchase gift cards and vouchers of various brands.
Qwikcilver was founded in 2008 by Kumar Sudarshan and TP Pratap. The company works on a , enabling customers to launch the stored value card program with minimal upfront investment and provides a suite of services to create, deploy and manage the programme. It provides a B2B backend technology to all the transactions that happen for plastic gift cards of various brands.
Qwikcilver powers the entire gift card business of over 100 brands across 20 categories like apparel, jewellery, dining, spa and travel among others. The company is estimated to have around 90% of the prepaid and gift card technology market share in India. It claims to process over 50 million transactions annually across physical and digital cards across desktop and mobile in over 300 towns and cities.
Qwikcilver claimed to have grown threefold between 2011 and 2015. The firm’s existing investors Helion Venture Partners and Accel Partners also participated in the round.
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