UAE Loyalty Tech Firm Related Secures SAR 30 Million from Equivator for Saudi and European Expansion
The UAE-based loyalty and rewards platform, Related, has successfully secured a strategic investment of 30 million Saudi Riyals (approx. $8 million USD) from the alternative investment firm, Equivator. This capital injection is set to accelerate the company's expansion into the Saudi market, enhance its regional presence, and support its entry into Europe.
By the Numbers
SAR 30 million: Total investment value (approx. $8 million USD).
A Strategic Push into Saudi Arabia and Europe
The primary focus of this investment is to fuel Related's significant expansion into the Kingdom of Saudi Arabia, aligning its growth with the goals of Saudi Vision 2030. The funds will be used to enhance its position as a leading provider of both institutional (B2B) and direct-to-consumer (B2C) loyalty solutions. In addition to deepening its MENA footprint, the company will also use the capital to support its entry into new European markets.
Innovating Loyalty with Financial Technology
Related specializes in developing sophisticated loyalty and rewards solutions that are underpinned by modern financial technologies. The company provides a comprehensive platform that enables businesses to create and manage effective customer engagement and retention programs, a critical need in today's competitive retail and service landscapes.
Launching a New 'Loyalty & Fintech Authority'
In an ambitious move, Related plans to use part of the funding to create a new regional knowledge and regulatory platform called the "Related Loyalty & Fintech Authority." This initiative signals the company's intent to not only provide services but also to become a thought leader and help shape the standards and best practices for the loyalty tech industry in the region.
About Related
Related is a UAE-headquartered technology company that provides a comprehensive platform for advanced loyalty and rewards solutions. It serves both business and consumer markets, integrating financial technology to create seamless and effective customer retention programs.
About Equivator
Equivator is a financial firm specializing in alternative investments. Its strategic investment in Related highlights a focus on backing high-growth technology companies that are poised to make a significant impact in the MENA region and beyond.
Looking Ahead
This investment empowers Related to aggressively pursue its growth strategy, solidifying its leadership in the MENA loyalty market while exploring new international opportunities. The development of a dedicated authority for loyalty tech further cements its position as an innovator and leader in the future of customer engagement.
Source: Jawlah