Invitation Digital Limited, the owner and operator of the Vouchercloud and Giftcloud brands, has been purchased from majority owner Vodafone in a management buy-out, placing the company back in the hands of original founders Scott Davidson and Greg Le Tocq. The new owners will operate under the name Cloud Savings Company.

Vouchercloud.com is one of the UK’s leader voucher platforms, having helped to revolutionise the marketplace with the launch of one of Europe’s first voucher apps back in 2010. Sister company Giftcloud launched in 2014 as Europe’s first entirely digital gifting app and website, enabling users to get instant access to digital gift cards and providing businesses with a fully digital rewards and loyalty solution.

“This deal represents a new era of independence for the business and unlimited opportunity for further growth,” said Scott Davidson, chairman of Cloud Savings Company. “From the outset in 2010, our mission has been to make the lives of consumers easier with innovative digital solutions, which we succeeded in with our first-to-market Vouchercloud and Giftcloud apps.

“2017 has been an incredible year for both brands and the support from Vodafone has been important in getting us to this stage. We are excited to be starting the next stage of our growth journey in 2018, and the future is looking very bright.”

Vouchercloud was bought by Vodafone in 2012. Last year, the Vouchercloud app hit 9.2m app downloads, and generated more than 500m in sales. The company has partnered with more than 12,000 retailers and other brands since launching, from Asos to Pizza Express.

“It’s amazing to reflect on the journey we have been on since we launched the Vouchercloud app in 2010, when we were a team of three operating from a small office in Bristol,” said Greg Le Tocq, founder and director of Vouchercloud and Giftcloud. “Now, eight years on, we employ a team of over 100 from the city. 2018 signals an extremely exciting time in the voucher and incentive marketplace, with lots of change equalling plenty of opportunity.”