Dubai, UAE – Related, a leading Dubai-headquartered loyalty and rewards platform, announced today it has successfully raised $8 million (SAR 30 million) in strategic funding. The investment comes from Saudi alternative investment firm Equivator, a move set to significantly accelerate Related’s expansion within Saudi Arabia and bolster the development of its advanced AI and blockchain-powered loyalty solutions.
Founded over a decade ago, Related has established itself as a key player in the region, currently serving more than 30 million users across the GCC and Levant. The company powers loyalty programs for major institutions spanning the telecommunications, banking, retail, utilities, and entertainment sectors.
Strategic Acquisition and Enhanced Platform Capabilities
This strategic funding round coincides with Related’s recent acquisition of Uplines, a B2C loyalty platform previously backed by Equivator. The Uplines platform will be fully integrated into Related’s existing framework as the company prepares to roll out an array of enhanced offerings. These include sophisticated AI tools, blockchain-enabled rewards platforms, innovative gamification features, and seamless integrated payment solutions.
“We are thrilled to welcome Equivator as a strategic partner on our journey to redefine loyalty and engagement in the region,” stated Rabih Farhat, CEO of Related. “This partnership is more than a transaction; it’s a transformation, a joint mission to reshape the future of fintech-powered loyalty solutions in line with the Kingdom’s innovation agenda.”
Aligning with Saudi Vision 2030 and Regional Leadership
The investment is a strong testament to Saudi Arabia’s Vision 2030 economic diversification goals, further positioning the Kingdom as a burgeoning regional hub for financial technology innovation. Equivator’s backing will not only support Related’s strategic market entry into Europe and beyond but also help establish the “Related Loyalty & Fintech Authority”—a new regional knowledge and policy forum aimed at fostering industry dialogue and advancements.
Enes Şehzade, CEO at Equivator, emphasized the strategic importance of this collaboration: “This is more than an investment; it’s a strategic deal to build a regional champion in loyalty and digital payments. Together, we aim to power a new era of data-driven customer engagement and reward invention.”
This deal underscores Equivator’s continued commitment to the fintech-loyalty space, building on its prior investment in Uplines. Related’s enhanced platform will cater to both B2B and B2C segments, creating new value opportunities for brands and consumers throughout the MENA region.
With over ten years of market experience and a vast user base of 30 million customers, Related is strategically positioned to leverage this new funding to solidify its leadership in the rapidly expanding Middle Eastern loyalty and rewards market.
