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Merit Incentives secures $28 million Series B

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Merit Incentives secures $28 million Series B
  • UAE-based rewards and loyalty platform Merit Incentives has secured $28 million in a Series B funding round from Capital Investment, Stride Ventures, Tech Invest Com, and Oryx Fund.
  • Founded in 2016 by Julie Leblan and Thrishan Padayachi, the company offers digital gift cards, employee engagement tools, and customer loyalty solutions, with a presence in the UAE, Saudi Arabia, Kuwait, Egypt and Jordan.
  • This latest funding follows a $5 million Series A in 2021 and a $12 million Pre-Series B round in mid-2024.

Source: Cairo Scene

Merit Incentives, a UAE-based rewards and loyalty platform, has secured $28 million in a Series B funding round from Capital Investment, Stride Ventures, Tech Invest Com, and Oryx Fund. The company offers digital gift cards, employee engagement tools, and customer loyalty solutions, working with major brands like Riyad Bank, Vodafone, Adidas and Amazon.

Founded in 2016, the company operates across the UAE, Saudi Arabia, Kuwait, Egypt and Jordan. With a network spanning over 5,000 brands in over 100 countries, Merit Incentives now serves more than 20 million users. This latest funding follows a $5 million Series A in 2021 and a $12 million Pre-Series B round in mid-2024.

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