ADVANTAGE KARNATAKA
Driving Business Growth through Human Motivation Headquartered in Bengaluru, Xoxoday is a startup whose genesis to growth has been in Bengaluru, nurtured by the energetic startup environment of the city. It is a rapidly-growing fintech Software as a service (SaaS) firm that propels business growth while focusing on human motivation. The company aims to make growth stories rewarding through its mission of providing technology infrastructure for rewards, engagement, and loyalty for businesses worldwide. “Xoxoday is well placed to take a leadership position in the Rewards, Incentives, Payouts, Perks, Loyalty, and Engagement (RIPPLE) sector and emerge as a formidable global player in the next 2-3 years. Through our RIPPLE effect, we plan to touch and impact the lives of 100 next billion users of the web,” said Sumit Khandelwal, Co-founder & CEO, Xoxoday. In an interview with Advantage Karnataka, he talks about the company’s latest business operations and future plans. Sumit Khandelwal Co-founder & CEO Xoxoday Xoxoday is engaged in creating the RIPPLE (Rewards, Incentives, Payouts, Perks, Loyalty and Engagements) effect. Could you elaborate? Our vision is to make growth stories rewarding through our mission to provide technology infrastructure for rewards, engagement, and loyalty for businesses worldwide. Driven by our vision and mission, Xoxoday has been building the technology infrastructure to enable businesses to automate rewards, incentives, perks, engagement, & payouts processes across the value chain. We raised our first institutional round of funding from Giift, backed by Apis Partners Growth Fund II and have added loyalty to our kitty. The time was RIPPE for a RIPPLE. As children, we enjoyed creating ripples. Xoxoday is functioning at the intersection of delight and creating RIPPLES that help businesses grow holistically. Today our product suite comprises SaaS solutions for rewards, engagement and loyalty, helping organizations achieve holistic business
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growth by enabling the growth of all the stakeholders: consumers, employees, and sales & channel partners. Could you name some of your major customers? We work with 1500+ clients including many companies from the Fortune 500. Shell, Adobe, Nielsen, Mindtree, Freshworks, Kantar, H.M., Capgemini, Cleartrip, Ola, Dunzo, Pepsi, and Freshworks, to name a few. Could you recall how Xoxoday was formed and also how you decided on the name of the firm? Xoxoday was formed in 2017 after we decided to dedicate our entrepreneurial journey to our vision and mission. Our tagline is: We make growth stories rewarding. We believe that business growth is not a one-dimensional variable but a compound function that encompasses growth with an organization’s employees, customers, sales and channel partners.
Therefore, each product addresses one aspect of the growth variable: employees, customers, and sales & channel partners. As mentioned earlier, we function at the interface of delight, and delight evokes feelings of happiness and deep appreciation. In a light-hearted way, these are expressed as XOXO. The way we have a Monday or a Tuesday, why not a Xoxoday every week if not every day? Could you tell us about the benefits of connecting to the Xoxoday API solution? The Xoxoday API feature is one of the sophisticated and scalable APIs. It allows users to automate rewards instantly via the application of their choice. With APIs, users can view catalogues based on their country, region, and preferences. Our API feature also supports webhooks, thereby bringing efficiency to management. You are now joined by Giift. What would be the impact of this partnership? As mentioned earlier, our funding from Giift has been the driver of the RIPPLE. Our
