Monday May 20th, 2024
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Bahrain-Based Fintech Ahlan App Lands $3 Million Investment

Since its launch in 2021, Ahlan boasted a network of over 1,400 vendors and catered to the needs of more than 200,000 clients.

Startup Scene

Bahrain-Based Fintech Ahlan App Lands $3 Million Investment

Ahlan App, the Bahraini loyalty programme founded by Faisal Rashed in 2021, has secured a $3 million investment at a valuation of $15 million. This investment round, which marks Ahlan's first, was fully subscribed to and spearheaded by Hope Ventures. Joining in the round are esteemed private sector investor Al Rajhi Holdings, alongside other notable angel investors.

Ahlan operates as a comprehensive delivery platform rewarding customers for their loyalty with cashback directly on the platform. The rewards are earned through various services including dine-in, pick-up, and home delivery options.

Since its launch, Ahlan boasted a network of over 1,400 vendors and catered to the needs of more than 200,000 clients. The platform has distributed over $10 million in cashback credits. By providing robust analytics and actionable insights, Ahlan enables Bahrain-based companies to make informed, data-driven decisions that optimize delivery operations, cut costs, and improve overall customer experiences.

The investment in Ahlan aligns with Hope Ventures' strategy of supporting promising Bahraini businesses and SMEs. With a focus on forward-thinking founders and a commitment to value creation, Hope Ventures aims to facilitate growth into new markets through its extensive regional network and resources.

“We look forward to working closely with Ahlan to enhance their product and platform offerings, expand their reach, and forge strategic partnerships with key stakeholders,” Fajer Saleh Alpachachi, General Manager at Hope Ventures, tells StartupScene. “A key driver for Hope’s investment in Ahlan is also to accelerate the growth of local businesses that require delivery services and customer acquisition through an affordable and efficient platform such as Ahlan.”

Ahlan plans to utilize the newly acquired funds to expand its market share, further enhancing its position as a one-stop platform for users and vendors.

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