LKP Finance Ltd. has acquired a strategic stake in digital gifting platform Gyftr as it transitions from a traditional non-banking financial company model to a payments- and rewards-focused FinTech platform. The company has also applied to surrender its NBFC licence.
The transaction is structured through LKP Finance’s existing 22 per cent stake in Mufin Pay, which owns 100 per cent of Gyftr (Vouchagram Private Limited). This structure enables operational integration across the payments and rewards ecosystem. LKP Finance is also in the process of pursuing a name change to Gyftr, with a licensing agreement currently underway.
The move positions the combined entity to compete in India’s loyalty and rewards market, estimated at $35–40 billion and projected to exceed $65 billion by 2030. Digital gifting has emerged as a key growth driver within the segment, with more than 150 million e-gift cards issued over the past year.
Mufin Pay’s prepaid payment instrument licence will provide the regulated payments infrastructure, while Gyftr contributes capabilities in digital gifting, incentives, and rewards across more than 300 brands. The consolidation is aimed at creating a unified payments and digital rewards platform.
The corporate gifting segment, estimated at Rs 12,000–15,000 crore, is growing at 18–20 per cent annually, driven by employee engagement programmes, customer loyalty initiatives, and sales incentives. The integration seeks to reposition rewards from promotional tools into core components of business and financial workflows.
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