UAE loyalty platform Associated raises $8 million from Saudi’s Equivator to develop Kingdom operations 

Dubai-headquartered loyalty and rewards platform Associated has raised $8 million (SAR 30 million) in strategic funding from Saudi different funding agency Equivator, the corporate introduced on Tuesday. The funding will speed up Associated’s growth in Saudi Arabia and assist the event of AI and blockchain-powered loyalty options.

Based over a decade in the past, Associated claims to serve greater than 30 million customers throughout the GCC and Levant, powering loyalty packages for main establishments in telecommunications, banking, retail, utilities, and leisure sectors.

The funding comes as Associated acquired Uplines (the web site is now offline), a B2C loyalty platform beforehand backed by Equivator. The acquisition might be built-in into Associated’s broader framework as the corporate prepares to launch enhanced choices together with superior AI instruments, blockchain-enabled rewards platforms, gamification options, and built-in fee options.

“We’re thrilled to welcome Equivator as a strategic accomplice on our journey to redefine loyalty and engagement within the area,” stated Rabih Farhat, CEO of Associated. “This partnership is greater than a transaction; it’s a change, a joint mission to reshape the way forward for fintech-powered loyalty options in keeping with the Kingdom’s innovation agenda.”

The funding aligns with Saudi Arabia’s Imaginative and prescient 2030 financial diversification objectives and positions the Kingdom as a regional hub for monetary know-how innovation. Equivator’s backing will assist Associated’s market entry into Europe and past whereas serving to set up the “Associated Loyalty & Fintech Authority,” a brand new regional data and coverage discussion board.

Enes Şehzade, CEO at Equivator, emphasised the strategic nature of the partnership: “That is greater than an funding; it’s a strategic deal to construct a regional champion in loyalty and digital funds. Collectively, we goal to energy a brand new period of data-driven buyer engagement and reward invention.”

The deal represents Equivator’s continued funding within the fintech-loyalty area, constructing on the agency’s earlier backing of Uplines. Associated’s enhanced platform will serve each B2B and B2C segments whereas creating new worth alternatives for manufacturers and shoppers throughout the area.

With over ten years of market expertise and a person base spanning 30 million prospects, Associated is positioned to leverage the brand new funding to strengthen its management place within the quickly rising Center Japanese loyalty and rewards market.

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