Riyadh, Saudi Arabia – Resal, a leading Saudi company specializing in digital cards, rewards solutions, and loyalty programs, has successfully closed a $9 million investment round. This round saw participation from prominent investors, including Derayah Ventures Fund, Al-Wafrah AlThanya Investment Company, Venture Souq FinTech Fund, ADDiriyah Asset Management, Nomad Holdings, Bugshan Investment Group, and a consortium of family offices and angel investors.
The newly acquired funds will be strategically deployed to accelerate Resal’s growth within the Kingdom. Key focus areas include targeting new sectors, launching innovative technological products for alternative payment solutions, and enhancing loyalty programs and rewards systems. Additionally, Resal plans to expand its partner network and infrastructure across multiple sectors.
Hatem Kameli, Co-founder and CEO of Resal, remarked, “Securing this investment is a significant endorsement of our mission and the efforts of our team in building a robust digital ecosystem. This ecosystem is pivotal in offering innovative solutions in loyalty programs, digital rewards, and alternative payments, in line with Saudi Arabia’s Vision 2030. Our recent sales growth, which has doubled, and the increase in beneficiaries—now exceeding 1.5 million users and over 1,000 entities across more than 15 sectors—underscore our potential. This investment further strengthens our confidence in delivering an exceptional experience and launching a series of groundbreaking solutions and products.”
Faris Al-Rashed, Chairman of Derayah Ventures, shared his perspective on the investment, stating, “Our confidence in Resal’s team has been unwavering since our initial involvement. The achievements Resal has garnered today are the result of years of dedication to enhancing loyalty programs and financial technology in Saudi Arabia and the broader Gulf region.”
Salah Khashoggi, Chairman of Al-Wafrah Investment Company II, also expressed his enthusiasm, saying, “Resal is a cornerstone in our vision to create an innovative technological ecosystem. This platform connects individuals and organizations through an extensive network of partners across financial sectors, providing alternative solutions that are instrumental in developing the digital ecosystem for alternative payments. We are committed to Resal’s smart and innovative solutions.”
Resal offers a comprehensive range of digital solutions designed to build a vast network connecting merchants, companies, and individuals. These solutions facilitate the management and exchange of loyalty points, prepaid cards, and vouchers from various sources, including banks, telecom companies, airlines, and both governmental and non-governmental organizations.
Through the “Resal for Merchants” platform, merchants and brand owners can effortlessly design loyalty programs and digital cards, engage with customers, and drive sales by leveraging Resal’s solutions network tailored for companies and individuals.
Moreover, companies can utilize the “Resal for Business” platform to distribute digital prepaid cards, points, offers, and discounts as rewards for employees and customers. The platform also streamlines processes such as customer refunds, compensations, expense management, payments, and other financial operations.
For individuals, the Resal Wallet app offers a convenient way to accumulate and aggregate loyalty points from multiple sources, such as telecom companies, banks, and airlines, into a single digital wallet. These points can then be converted into value for everyday purchases from Resal’s extensive network of more than 1,000 brands.
This significant investment marks a new chapter in Resal‘s journey, positioning the company as a key player in Saudi Arabia’s evolving digital landscape, with the potential to influence broader regional markets.
