UAE-based Web3 rewards startup Bundle has emerged from stealth after securing $5.5 million in a pre-seed funding round led by Ethereal Ventures and Further Ventures, with participation from Nascent, GSR, Scenius Capital, Anchorage Digital, and Nuwa Capital.
Founded by Bader Al Kalooti and Mostafa Wanas, Bundle is developing a blockchain-powered rewards platform designed to help businesses improve customer acquisition, engagement, and retention through a shared rewards ecosystem.
The startup enables brands to combine their marketing incentive budgets into shared reward pools, allowing companies—particularly small and medium-sized businesses—to offer significantly larger rewards than they could independently while reducing customer acquisition costs.
Unlike traditional loyalty programs centered on discounts and cashback, Bundle’s model is built around the idea that consumers are more motivated by the opportunity to win meaningful rewards. Customers earn Bundle tickets by completing actions such as making purchases or referring friends, giving them access to shared reward pools funded by participating brands.
“Bundle was built to level that playing field. We believe every business, regardless of size, should be able to offer their customers the kind of rewards that genuinely excite them, rather than relying on discounting, which is a race to the bottom,” said Bader Al Kalooti, Co-Founder and CEO of Bundle.
The platform manages the underlying rewards infrastructure and regulatory framework, enabling brands to launch campaigns across multiple markets through a single compliant platform. While the user experience remains similar to traditional Web2 applications, reward payouts are powered by blockchain technology and stablecoins, allowing low-cost cross-border payments and seamless withdrawals through licensed payment service providers.
Bundle has already demonstrated promising early traction during a pilot program conducted across five markets with five participating companies. The company distributed US$100,000 in rewards to more than 1,100 winners, including a US$50,000 grand prize, while participating brands reported conversion rates of up to four times higher than those achieved through conventional promotional campaigns.
Following the funding round, Bundle plans to launch initially in Singapore, Vietnam, and the Philippines, where more than 50 founding brands have already joined the platform. The fresh capital will also support product development, strategic partnerships, and international expansion.
“The next wave of blockchain businesses like Bundle will drive mainstream consumer applications by feeling native to users and solving real problems. It is a perfect example that uses shared rewards and blockchain rails to help brands drive loyalty and customer growth at scale,” said Min Teo, Managing Partner at Ethereal Ventures.
Robbie Nakarmi, Partner at Further Ventures, added that Bundle’s shared rewards network enables brands of all sizes to access larger incentives that drive stronger customer engagement and higher conversion rates at a fraction of traditional marketing costs.
With its network-based rewards model and blockchain-powered payment infrastructure, Bundle aims to redefine how businesses approach customer incentives while making Web3 technology more accessible through practical, consumer-focused applications.
