# Resal

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/resal

- Industry: Retail
- Headquarters: Jeddah, Saudi Arabia
- Website: www.resal.me/
- Total disclosed funding: $11M
- Latest round: Series A (Aug 18, 2024)
- Investors on record: 7

## About

Based in Jeddah, Saudi Arabia, and founded in 2016, Resal provides digital solutions for businesses that specializes in alternative payment solutions. Hatem Kameli (CEO) and Fouad AlFarhan are the co-founders of the company. In August 2024, Resal raised USD 9 million in venture funding from Ad Diriyah Asset Management, Al Wafra Al Thanya (Wafra II), Bugshan Investment Company, and NOMD Holding Company, including VentureSouq and Derayah Ventures.

The company's primary product is a digital platform that simplifies the process of managing rewards and incentives. This platform allows businesses to send and track digital rewards for employees and customers, saving time and effort while increasing engagement. Resal also offers a wide selection of over 800 digital cards, covering brands like PUBG, Noon, STC, and Careem. Companies can use Resal's platform to create loyalty programs and issue custom-branded digital cards to enhance customer loyalty and drive sales. Resal’s network spans across countries in the MENA region, including the UAE, Bahrain, Kuwait, Qatar, and Oman. The firm has over 150,000 customers and 1,000 local and international clients.

The organization plans to use the August 2024 funding to accelerate its growth by introducing new technological products for alternative payment solutions, loyalty programs, and rewards, and expanding its partner network and infrastructure.

## Funding rounds

- Series A, Aug 18, 2024, $9M — VentureSouq, Derayah Ventures, Bugshan Investment Company, Al Wafra Al Thanya (Wafra II), NOMD Holding Company, Ad Diriyah Asset Management
- Series A, May 31, 2021, $1.3M — Derayah Ventures
- Seed, May 16, 2019, $0.8M — VentureSouq, Business Incubator & Accelerator Company, Derayah Ventures

## Investors

- VentureSouq (https://capitalatlas.ai/funds/venturesouq) — Seed, Series A
- Business Incubator & Accelerator Company (https://capitalatlas.ai/funds/business-incubator-accelerator-company) — Seed
- Derayah Ventures (https://capitalatlas.ai/funds/derayah-ventures) — Seed, Series A
- Bugshan Investment Company — Series A
- Al Wafra Al Thanya (Wafra II) — Series A
- NOMD Holding Company — Series A
- Ad Diriyah Asset Management (https://capitalatlas.ai/funds/ad-diriyah-asset-management) — Series A