Swych is currently available in the US, where it offers a digital gift card platform. 

Ankush is a journalist hailing from India, who has edited and written for publications in his home country, the UAE, US, and UK. Previously the editor of Gulf Business in Dubai and of Entrepreneur in India, Ankush is a keen student of economics, a follower of Manchester United since 1996 and a disciple of Archer.

Swych, a digital gifting startup based out of the US, has announced that it has raised a Series A round from UAE Exchange, a UAE-based remittance and forex service provider in the country.

Although financial details of the deal were not disclosed, a statement said that the investment would allow the forex and remittance service to offer digital gifting services to its global consumer base.

Swych is currently available in the US, where it offers a digital gift card platform.

Launched in 2016, Swych claims a network of 120+ US retailers. To use the service, the “senders” can send “Swychable” gift cards that to “recipients.” Using the Swych app, recipients of such digital gift cards can then redeem them at listed local retailers.

Under the deal, Swych will closely collaborate with UAE Exchange to develop and promote digital gifting services in major markets.

To begin with, the two will collaborate to develop a service between the US and India.

Swych claimed that is in the process of connecting 100+ retailers from India, the Philippines, and several other countries to its network.

Gifting apps have received the attention of local investors and organizations.

In 2016, UAE-based online gift shop Joi had revealed that it had received investment from early-stage venture fund and seed accelerator 500 Startups.