UAE-Based Merit Incentives Raises $28M Series B For Global Expansion

Merit Incentives, a UAE-based rewards and loyalty platform, has secured $28 million in a Series B funding round from Capital Investment, Stride Ventures, Tech Invest Com, and Oryx Fund. The company offers digital gift cards, employee engagement tools, and customer loyalty solutions, working with major brands like Riyad Bank, Vodafone, Adidas and Amazon.

Founded in 2016, the company operates across the UAE, Saudi Arabia, Kuwait, Egypt and Jordan. With a network spanning over 5,000 brands in over 100 countries, Merit Incentives now serves more than 20 million users. This latest funding follows a $5 million Series A in 2021 and a $12 million Pre-Series B round in mid-2024.