Swych Closes Series A Funding Round With Lead Investment From UAE Exchange Group

Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, today announced the successful completion of its Series A round, with a major strategic capital investment by UAE Exchange Group, a leading global money transfer, foreign exchange and payment solutions provider.

Through this partnership, the two brands seek to tap into their collective strengths and customer base to develop a symbiotic relationship that will deliver a convenient and enriched digital gifting experience, unrestricted by borders.

Gift cards have become the de facto choice among consumers for gifting services in many markets across the world. Swych offers a global, scalable digital gift card platform as a clear solution for global gifting services. By allowing distribution of relevant digital gifts internationally that are instantly delivered and can be redeemed by the recipient at a local retailer of their own choice, Swych global gifting eliminates the hassles and makes gifting instant, delightful and satisfying for both the sender and the recipient.

Currently available in the United States, Swych will closely collaborate with UAE Exchange to develop and promote digital gifting services in major markets, leveraging the global reach of UAE Exchange. The service between the United States and India is targeted as the premiere launch.

Promoth Manghat, CEO of UAE Exchange Group, said, “Swych’s global gifting technology and vision fits well with our strategy to foster purpose-based money transfers. As a group, we are always on the lookout for opportunities to partner with organizations that drive innovation, provide differential services and promote digital initiatives. In Swych, we see a unique value proposition that checks all these boxes. Additionally, this enables us to expand our offerings to include digital…

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