• Related secured USD 8M from Equivator to expand loyalty solutions and accelerate fintech innovation across Saudi and the wider region.
• The investment will fuel Related’s tech development in AI and blockchain while supporting Saudi Arabia’s fintech and customer engagement goals.
• Equivator also plans to help launch the ‘Related Loyalty & Fintech Authority’ to shape regional fintech policy and knowledge sharing.

Related

What happened? UAE-based loyalty and rewards company, Related, secured USD 8 million from Saudi’s investment firm Equivator.

“This partnership is more than a transaction, it’s a transformation, a joint mission to reshaping the future of fintech-powered loyalty solutions in line with the Kingdom’s innovation agenda,” said Rabih Farhat, CEO of Related.

Who are they? Related offers tailored loyalty and rewards solutions for brands across the GCC and Middle East. It services a variety of industries ranging from mobile operators and financial institutions to retail and public sectors.

Meanwhile, founded in 2023, Equivator is a Saudi-based alternative asset management and advisory firm. Furthermore, it specializes in private equity and venture capital across the MENA  region, focusing on tech ventures and specifically fintech.

Loyalty and Rewards

What is next? With the newly acquired funding, Related aims to accelerate its  expansion in Saudi as well as boost innovation. It also aims to fast track the launch of solutions in AI, blockchain and customer experience.

Additionally, Equivator aims to support its market entry into Europe and beyond. “It also seeks to aid them in establishing initiatives such as the ‘Related Loyalty & Fintech Authority,’ a new regional knowledge and policy forum.”

Equivator previously invested in the loyalty focused B2C space through Uplines, a digital points wallet. Furthermore, Related acquired Uplines in full, integrating it into its broader framework and preparing it for a relaunch. It aims to introduce a range of new products and offerings, from Advanced AI tools to blockchain-enabled rewards platform, gamification features and payments.