Related secures $8mln investment from Saudi Equivator to fuel MENA expansion
Mubasher: UAE-based loyalty and rewards company Related has secured an $8 million investment from Saudi premier alternative asset management firm Equivator, according to a press release.
Related will use the new capital to support the launch of AI- and blockchain-powered solutions, boost gamification features, and accelerate its expansion and growth across the Kingdom and the MENA region.
The company will also launch the 'Related Loyalty & Fintech Authority', a new regional forum to advance industry knowledge and policy.
This aims to reinforce Saudi Arabia's position as a regional and global base for advanced financial technology and customer engagement.
Rabih Farhat, CEO of Related, commented: 'This partnership is more than a transaction; it is a transformation, a joint mission to reshape the future of fintech-powered loyalty solutions in line with the Kingdom's innovation agenda.'
Enes Şehzade, CEO at Equivator, stated: 'Together, we aim to power a new era of data-driven customer engagement and reward invention.'
Meanwhile, Related provides services to over 30 million users across the GCC and Levant, powering loyalty programs for leading institutions in telecommunications, banking, retail, utilities, and entertainment.
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