The Bahraini loyalty program, Ahlan App, has successfully raised $3 million at a $15 million valuation in its first investment round, which was spearheaded by Hope Ventures and fully subscribed to.
Al Rajhi Holdings, a prestigious private sector investor, joined the round alongside credible angel investors.
Read also – India’s Ultrahuman Secures $35M in Equity and debt investment
Established in 2021, It is a delivery platform and loyalty program based in Bahrain that offers cashback incentives to its patrons for their loyalty. The site facilitates dine-in, pick-up, and home delivery options.
Over 1,400 suppliers and over 200,000 customers have been handled by it to date, and they have received over $10 million in payback credit as compensation.
Read also – Akulaku Secures $100M in Debt Financing
Through its listed accounts’ extensive analytics and actionable insights, the platform empowers vendors and organizations in Bahrain to make data-driven decisions that improve customer happiness, cut costs, and streamline delivery operations.
Faisal Rashed, Co-Founder of Ahlan, shared: “We are excited to announce the investment round in Ahlan led by Hope Ventures, as it is a significant vote of confidence in our mission to enhance people’s experience with loyalty programmes in the region and solidifies our position as a trailblazer in the loyalty programme and delivery platform space. With their support, Ahlan App is eager to expand its existing offerings and explore tech products that support the F&B industry, such as point-of-sale solutions and other B2B platforms.”
As part of its mission to invest in promising, high-potential Bahraini companies and SMEs, Hope Ventures has made this investment in it. The company’s founders are forward-thinking, and Hope’s extensive regional network and resources will help them strategically accelerate their growth into new markets, resulting in economic growth and the development of a thriving business ecosystem.
Fajer Saleh Alpachachi, General Manager at Hope Ventures, commented on the investment: “We are thrilled to be announcing Hope’s investment in Ahlan. Our decision to lead this investment round reflects Hope’s belief in Ahlan’s vision and the immense potential of its platform. 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. 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.”
It plans to enhance its market share by utilizing the obtained funds. This calculated move will offer a smooth experience that allows suppliers and users to save more money, all while giving them a one-stop platform for a variety of services.
About Ahlan App
Ahlan, which translates to “greetings and welcome” in Arabic, is a special loyalty club that gives members credit for dining in or placing online orders from their preferred restaurants.
