Dubai-headquartered loyalty and rewards platform Related has raised $8 million (SAR 30 million) in strategic funding from Saudi alternative investment firm Equivator, the company announced on Tuesday. The investment will accelerate Related’s expansion in Saudi Arabia and support the development of AI and blockchain-powered loyalty solutions.
Founded over a decade ago, Related claims to serve more than 30 million users across the GCC and Levant, powering loyalty programs for leading institutions in telecommunications, banking, retail, utilities, and entertainment sectors.
The funding comes as Related acquired Uplines (the website is now offline), a B2C loyalty platform previously backed by Equivator. The acquisition will be integrated into Related’s broader framework as the company prepares to launch enhanced offerings including advanced AI tools, blockchain-enabled rewards platforms, gamification features, and integrated payment solutions.
“We are thrilled to welcome Equivator as a strategic partner on our journey to redefine loyalty and engagement in the region,” said 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.”
The investment aligns with Saudi Arabia’s Vision 2030 economic diversification goals and positions the Kingdom as a regional hub for financial technology innovation. Equivator’s backing will support Related’s market entry into Europe and beyond while helping establish the “Related Loyalty & Fintech Authority,” a new regional knowledge and policy forum.
Enes Şehzade, CEO at Equivator, emphasized the strategic nature of the partnership: “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.”
The deal represents Equivator’s continued investment in the fintech-loyalty space, building on the firm’s previous backing of Uplines. Related’s enhanced platform will serve both B2B and B2C segments while creating new value opportunities for brands and consumers across the region.
With over ten years of market experience and a user base spanning 30 million customers, Related is positioned to leverage the new funding to strengthen its leadership position in the rapidly growing Middle Eastern loyalty and rewards market.
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