$5M for Rewards Platform Merit Incentives | MAGNiTT
Summary
From the enterprise software funding by in 2021, AI-driven HR solutions provider Leena AI led the biggest round, with UAE-based online banking platform NOW Money, and KSA-based E-commerce builder Zid also driving the industrys 328% YoY growth in capital deployed across MENA by Q3 2021. We believe in the Middle East’s fast-growing market which allows us to serve our international clients’ needs with agility and efficiency.” The engagement start-up operates its own rewards network of 5,000 partner brands across 100+ countries, with 500+ retailers and merchants in the GCC alone further solidifying its principle of ‘thinking globally, acting locally. In a very positive indicator of growth, Merit Incentive recently surpassed a landmark milestone of 20 million end-users globally “We are amid a new era where users require unique yet meaningful experiences with companies they like and trust. Merit Incentives plans to use this funding for the growth of their team into new territories, and further investment in technology, building on the existing artificial intelligence and machine learning capabilities of its solutions. In addition to its headquarters in Dubai, the company has offices in Saudi Arabia, Kuwait, Egypt, Jordan and UK, along with a technology lab and development team located in Pakistan.