Merit Incentives announced a $5 Million Series A investment round, led by Riyadh-based venture capital fund Impact46 along with Tech Invest Com, Arzan VC, Hambro Perks Oryx and several regional angel investors.
What started as a B2C gifting solution has expanded to become one of the most engaging technology and consulting firms specialized in developing the latest B2B engagement tools and technologies. Currently, Merit offers its B2B2C services to a diverse portfolio of large enterprises, including Riyad Bank, Vodafone, Mubadala, Adidas and Amazon.
Merit Incentives’ products include Rewardsby, a Software as a service (SaaS) loyalty and rewards marketplace made up of nine distinctive engaging redemption modules, and GiftCardsby – the most advanced SaaS digital gift card platform on the market, enabling instant sales and redemptions from retailers.
Merit Incentives plans to use this funding for the growth of their team into new territories, and further investment in technology, building on the existing artificial intelligence and machine learning capabilities of its solutions.
