In 2021, Faisal Rashed established this Bahraini loyalty program known as Ahlan App and has secured a $3 million investment which values the company at 15 million dollars. This was considered Ahlan’s first-round investment that was followed and led by Hope Ventures investment group. Besides other angel investors joining this investment round, Al Rajhi Holdings was one of the notable and respected private sector investors.
Ahlan works as an overarching delivery platform that rewards its customers based on their loyalty level with direct cashback on the platform. Customers can earn these reward by different services such as, eating, go to get, and home delivery options.
Ahlan App has a network consisting of more than 1400 salespersons to cover the requirements of over 200,000 clients since the company launched in 2021, and since this time, the platform has granted more than $10 million in cashback credits to their customers.
Ahlan provides strong analytics and operating intuition that allow other Bahrain-based companies to make conscious and data-centric decisions to optimize delivery operations, reduce unnecessary costs, and enhance the overall UX for the customers.
Hope Ventures’ strategy is based on supporting Bahraini businesses and SMEs, which completely justifies their investment in the Ahlan App. Hope Ventures’ aim was exclusively focused on founders with futuristic ideas and committed to creating value to simplify the growth process into new markets and opportunities with their vast zonal resources and networks.
Fajer Saleh Alpachachi, the general manager at Hope Ventures said, “We enthusiastically are waiting to work closely with Ahlan to improve offers in their platform and products, extend their access, and make strategic participation with the key stakeholders.” Also, he said, “Hop’s key driver factor for investment in Ahlan is speeding up the growth of local businesses that need to acquire customers and delivery services from a budget-friendly and effective platform like the Ahlan App.
Ahlan aims to expand their market share and improve their position in the market as a one-step platform for customers and sellers with the help of this new obtained funds.
