Dubai, UAE – Merit, a leading rewards and loyalty platform headquartered in the UAE, has successfully raised $28 million in its Series B funding round. The investment was led by Alistithmar Capital and Tech Invest Com, with strong support from Endeavor Catalyst, Salica Investments, and Stride Ventures.
The company, founded in 2016, specializes in digital gift cards, employee engagement tools, and customer loyalty solutions, collaborating with major global brands such as Riyad Bank, Vodafone, Adidas, and Amazon. Merit Incentives operates across the UAE, Saudi Arabia, Kuwait, Egypt, and Jordan, serving over 20 million users and maintaining partnerships with more than 5,000 brands across 100 countries.
This latest funding round follows a $5 million Series A in 2021 and a $12 million Pre-Series B round in mid-2024, marking a significant milestone in the company’s journey toward global expansion.
Strategic Growth and Innovation
Merit Incentives has transitioned from a regional player to a global leader in engagement and loyalty solutions, redefining how businesses connect with their customers, employees, and communities. The newly secured funding will be instrumental in advancing the company’s strategic initiatives, including:
- Market Expansion: Strengthening its presence in key markets, including Saudi Arabia, the UAE, Egypt, and beyond.
- Technology Enhancement: Upgrading its digital infrastructure to introduce innovative solutions.
- New Product Development: Launching an Agent as a Service (AAAS) model, enabling businesses to design, manage, and optimize engagement strategies using AI-driven tools.
A Vision for the Future
Speaking on the milestone, Merit’ leadership expressed gratitude to its investors, partners, and team for their continued support in transforming engagement and loyalty solutions.
“This funding marks a transformative step in our journey as we continue to disrupt the industry on a global scale. Our mission remains clear: to create innovative engagement solutions that drive behavioral change and unlock value for all stakeholders,” said the company in a statement.
With this fresh capital, Merit Incentives is poised to further revolutionize the loyalty and engagement sector, helping businesses unlock new growth opportunities through cutting-edge digital solutions.
About Merit
Merit is a UAE-based rewards and loyalty platform offering digital engagement solutions for businesses worldwide. With a vast network spanning over 5,000 brands across 100 countries, the company empowers organizations with innovative tools to drive customer and employee engagement.
