Catalyzing Loyalty: AMOS Redefines the Game in Middle East's Tech Market
Empowering Businesses and Consumers Alike with Innovative Loyalty Solutions
Hey founders, funds, & friends 👋,
A warm welcome to the 4th edition of the “Mehtta Ventures Dubai” investment digest newsletter, your weekly news digest about startup stories across the Middle East & India, digital / business trends shaping our lives and curated investment opportunities.
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^ The new initiative, titled ‘Investment Readiness Acceleration’, will equip women-led startups with the necessary skills to navigate new sectors, secure funding, and effectively communicate their vision to investors.
The programme, launched at a ceremony at the Dubai Multi Commodities Centre, is a component of the ‘Entrepreneurial Nation’ project initiated by the ministry in 2021.
The project endeavours to advance gender equality and encourage women’s involvement in diverse economic sectors.
Today’s program:
The Middle East “Loyalty Tech” Market Overview
Startup Deal #4, AMOS - Fintech Delivering the World’s First Self-Funding Loyalty Platform
And….Action!
The Middle East “Loyalty Tech” Market Overview
In today’s newsletter, we focus on the massive opportunities within the “loyalty tech” market.
According to Research and Markets, the loyalty market in the United Arab Emirates alone was expected to grow by 12.1% on annual basis to reach US$1,423.7 million in 2023.
In value terms, the loyalty market in United Arab Emirates has recorded a CAGR of 12.6% during 2018-2022.The loyalty market in United Arab Emirates will continue to grow over the forecast period and is expected to record a CAGR of 11.7% during 2023-2027. Loyalty market in the country will increase from US$1,269.7 million in 2022 to reach US$2,214.5 million by 2027.
Notable loyalty tech startups in the Middle East -
Como:
Funding: Como has raised a significant amount of $110 million across multiple funding rounds.
Details: Como offers customer management and loyalty solutions to businesses of all sizes. Their offerings include CRM, loyalty programs, and business intelligence solutions. With a diverse client base including prominent names like Burger King and BMW, Como has established itself as a trusted partner in the loyalty tech space.
Funding: Bonat has raised funds in a Series A round, although the exact amount is undisclosed.
Details: Bonat operates as a platform offering app-based loyalty software. Users can collect points, receive rewards, and purchase gift cards through the Bonat app. The platform also provides businesses with a web interface to manage loyalty programs effectively. Based in Riyadh, Saudi Arabia, Bonat caters to businesses and consumers in the region.
Funding: Dsquares has raised funds in a Series A round, with specific details undisclosed.
Details: Dsquares specializes in providing solutions to manage loyalty programs. Their product offerings include Loyalty 360 and Couponz, catering to businesses seeking to engage and retain customers effectively. With a client roster featuring major names like Vodafone and Barclays, Dsquares has demonstrated its efficacy in the loyalty tech market.
Funding: Merit Incentives has raised $5 million in a Series A round.
Details: Headquartered in Dubai, Merit Incentives offers a comprehensive customer engagement and loyalty management platform. Their solutions encompass merchant collaboration, digital engagement, and loyalty program management. With notable clients such as HomeSoul and Damas, Merit Incentives has carved a niche for itself in the loyalty tech landscape.
BUFF:
Funding: BUFF is currently unfunded, indicating that they have not raised external capital as of yet.
Details: BUFF operates as a decentralized gaming loyalty platform, allowing gamers to accumulate rewards through gameplay. These rewards, known as BUFF coins, can be utilized for in-game purchases. With a focus on gamification, BUFF aims to enhance customer engagement within the gaming community, although it is currently in an unfunded stage.
Flok:
Funding: Flok has raised approximately $18.9 million in funding across various rounds.
Details: Flok operates as a loyalty platform and mobile application, facilitating rewards programs for brick-and-mortar businesses. Their mobile-centric approach enables businesses to create customized app experiences to incentivize customer spending and retention. With funding and notable investors like General Catalyst, Flok continues to expand its presence in the loyalty tech market.
Funding: TaskSpotting has raised $1.4 million in funding rounds.
Details: TaskSpotting initially began as a market research platform before pivoting to an advocate marketing platform. Their platform enables brands to create, manage, and track advocacy programs, rewarding consumers for sharing feedback and reviews. With a focus on consumer engagement, TaskSpotting has secured funding to further develop its platform and expand its reach.
ViaFone:
Funding: ViaFone has raised $23 million in a Series B round.
Details: Based in Dubai, ViaFone provides businesses with a SaaS-based loyalty and engagement platform tailored for retail outlets. Their solutions encompass customer spending analysis, targeted promotional mobile coupons, and beacon technology integration. With significant funding and a focus on retail engagement, ViaFone continues to grow its presence in the loyalty tech sector.
Funding: Personali has raised $16.2 million in funding across multiple rounds.
Details: Personali operates as an AI-based incentives personalization platform, enabling retailers to adjust prices and discounts in real-time based on consumer behavior. Their platform leverages segmentation and machine learning techniques to personalize incentives effectively. With a focus on retail optimization, Personali has garnered significant funding to further develop its platform.
Funding: Wafii has raised an undisclosed amount of funding in a seed round.
Details: Wafii operates as a platform offering cashback to customers for purchasing at partner merchants. Their application facilitates cashback transactions and offers features like multiple payment methods and data encryption. With a focus on customer rewards, Wafii aims to enhance the shopping experience for consumers in the Middle East.
These startups represent a diverse range of offerings within the loyalty tech market, each with its unique approach to customer engagement and retention. From comprehensive loyalty management solutions to gamified rewards platforms, these companies contribute to the vibrant ecosystem of loyalty technology in the Middle East.
In addition, it is clear that loyalty tech is an “exit friendly” vertical for investors to look at seriously as it works at the intersection of enterprise, fin tech, brand and consumer.
Startup Deal #4: AMOS, A Fintech Delivering the World’s First Self-Funding Loyalty Platform
Industry: Loyalty
Headquarters: Dubai, UAE
Fund Raise Ask: Ask: $1.5 million, Seed
Traction: From the founders of existing discount & rewards app, voucherskout, comes a revolutionary B2B platform where one brand's loyalty expenses are subsidized by another, fostering a symbiotic ecosystem. Tech under development and audience / partner brand on-boarding under way.
Founders: David Tobias & Brian Wilkie
Business Model: B2B2C
Revolutionizing Loyalty with AMOS
AMOS, developed by VoucherSkout Inc, represents a paradigm shift in the loyalty and rewards industry. Born out of the renowned Dubai-based marketing agency, Acumen Advertising, AMOS aims to redefine loyalty through its groundbreaking platform.
Strategic Disruption: AMOS introduces a novel model where one brand's loyalty expenses are subsidized by another, fostering a symbiotic ecosystem. This approach not only alleviates the financial burden on businesses but also enhances customer experience and engagement.
The way it works is that audience brands’ (lets say DEWA OR your school’s parent app etc) customers will have access to AMOS / Voucherskout partner brands’ discount / cash back offers (audience and partner brands will be non competing and we will make sure of that). Customers can then use the partner brand cash back to fund their bills on the audience brand apps.
Key Features and Benefits:
Reducing Customer Acquisition Costs: By connecting customers of established brands with cashback offers at partner brands, AMOS significantly reduces the reliance on traditional advertising platforms.
Cost-Effective Customer Acquisition: Partner brands attract new customers without hefty investments in PPC or digital marketing initiatives.
Enhanced Customer Engagement: AMOS empowers customers with cashback opportunities, fostering brand loyalty and generating goodwill.
Investment Opportunity:
VoucherSkout Inc seeks to raise a Seed Round of ~$1.5 Million to fuel AMOS's growth and development. This investment will drive product enhancement, marketing initiatives, and technological infrastructure, positioning AMOS as a disruptive force in the digital marketing landscape.
Meet the Visionary:
David Tobias, Founder and CEO of AMOS, brings over 30 years of expertise in advertising, marketing, and digital solutions. His leadership propels AMOS towards redefining loyalty in the digital era.
AMOS vs. Other Loyalty Tech Startups:
Business Model: Unlike traditional loyalty tech startups that focus on conventional loyalty programs and customer rewards, AMOS introduces a disruptive model of strategic relevance to brands. It facilitates a symbiotic ecosystem where one brand's loyalty expenses are subsidized by another, fostering mutual benefits for both audience and partner brands.
Cost-Sharing Mechanism: While most loyalty tech startups rely on businesses to bear the full cost of customer acquisition and retention, AMOS redistributes this financial burden across its ecosystem. By incentivizing large audience brands to subsidize loyalty expenses for partner brands, AMOS creates a cost-effective solution for customer acquisition and retention.
Affiliate Marketing On Supercharge (AMOS) Concept: AMOS challenges the traditional loyalty model with its innovative approach called "Reverse Loyalty." Unlike other startups that reward customers for spending on brands they love, AMOS enables customers to earn cashback from purchases at unrelated partner brands. This cashback can then be utilized for further purchases at audience brands, creating a unique cycle of engagement and rewards.
Seamless Integration: While other loyalty tech startups offer standalone solutions for customer engagement and loyalty management, AMOS seamlessly integrates with existing platforms like VoucherSkout. This integration enhances the user experience by linking customers of large audience brands to exclusive cashback offers from partner brands, thereby augmenting existing rewards programs.
Ecosystem Approach: AMOS goes beyond conventional loyalty tech solutions by fostering an ecosystem where businesses of all sizes can benefit from shared resources and customer bases. By incentivizing collaboration between audience and partner brands, AMOS promotes a vibrant and mutually beneficial environment for customer acquisition and retention.
In summary, AMOS stands out in the loyalty tech landscape by revolutionizing traditional loyalty models with its innovative cost-sharing mechanism, affiliate marketing approach, and seamless integration capabilities. By offering a unique solution that benefits both businesses and consumers, AMOS represents a paradigm shift in the way loyalty is perceived and managed in the digital age.
Invest in AMOS today and be part of the loyalty revolution!
While you wait for our next newsletter, I encourage you to check out Voucherskout.
And also follow them on Instagram to see other stories of happy customers, pictures and videos of existing and upcoming features, discounts on brands etc!
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