Dubai-headquartered Merit Incentives, a customer and worker employee engagement solutions developer, has announced a $5m Series A investment round, led by Riyadh-based venture capital fund Impact46 alongside Tech Invest Com, Arzan VC, and Hambro Perks Oryx Fund, among other private backers.
Merit offers its B2B2C administrations to a few undertakings, including Riyad Bank, Vodafone, Mubadala, Adidas and Amazon. Merit Incentives’ items incorporate Rewardsby, a product as a help (SaaS) loyalty and rewards marketplace comprised of nine reclamation modules, and GiftCardsby – a SaaS digital gift voucher stage empowering moment deals and recoveries from retailers.
Julie Barbier-Leblan, CEO and founder of Merit Incentives said: “While we had the choice of getting international investors our desire has consistently been to raise assets from inside the locale, as this is the place where our business previously dispatched. We have confidence in the Middle East’s quickly developing business sector which permits us to serve our global customers’ necessities with agility and efficiency.”
Merit Incentives plans to use the funds to grow the team into new territories, and invest in technology, as well as build on the existing artificial intelligence and machine learning capabilities of its solutions.
“We are amid a new era where users require unique yet meaningful experiences with companies they like and trust. It has now become imperative for businesses to engage directly with their customers, and internally with their employees, to create a constant dialogue and emotional bond at every touch point. We believe that the key to success is for leaders and managers to be able to align customer and employee engagement to support their vision, using SaaS technologies, and strong digital content,” added Barbier-Leblan.
The startup operates its own prizes network of 5,000 accomplice brands across more than 100 nations, with in excess of 500 retailers and vendors in the GCC alone. It has workplaces in Saudi Arabia, the UK, Kuwait, Egypt, and Jordan, alongside an innovation lab and advancement group situated in Lahore, Pakistan. It as of late outperformed 20 million end users globally.