Bahrain’s tech startup scene sees yet another success story as Ahlan App, the homegrown loyalty program, announces a significant investment milestone. Led by Hope Ventures, a prominent investor, Ahlan has successfully raised $3 million in its first investment round, valuing the company at an impressive $15 million. This round saw full subscription and participation from esteemed private sector investors, including Al Rajhi Holdings, alongside contributions from reputable angel investors.
Established in 2021, Ahlan has swiftly carved a niche for itself as a leading loyalty program and delivery platform in Bahrain. Through its innovative approach, Ahlan rewards customers for their loyalty by offering cashback directly on the platform for dine-in, pick-up, and home delivery services.
Since its inception, Ahlan has onboarded over 1,400 vendors and served a vast clientele of more than 200,000 customers, rewarding them with a staggering $10 million in cashback credit. Notably, the platform empowers Bahraini businesses and vendors by providing comprehensive analytics and actionable insights, enabling data-driven decisions to optimize delivery operations, reduce costs, and enhance overall customer satisfaction.
Faisal Rashed, Co-Founder of Ahlan, expressed his excitement about the investment round, highlighting, “It is a significant vote of confidence in our mission to enhance people’s experience with loyalty programs in the region and solidifies our position as a trailblazer in the loyalty program 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.”
This strategic investment aligns with Hope Ventures’ mission to invest in promising Bahraini businesses and SMEs, aiming to accelerate their growth into new markets through strategic partnerships and leveraging regional networks and resources. Fajer Saleh Alpachachi, General Manager at Hope Ventures, shared, “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.”
With freshly secured funds, Ahlan is poised to bolster its market presence and offer users and vendors a comprehensive platform for various services while delivering a seamless experience aimed at maximizing savings and convenience.
