Ahlan App, the Bahraini loyalty program has successfully raised $3m at a valuation of $15m in its first investment round which has been fully subscribed and led by Hope Ventures. The round was joined by top-tier private sector investors Al Rajhi Holdings, in addition to reputable angel investors.
Launched in 2021, Ahlan is a Bahraini loyalty program and delivery platform that rewards its customers for their loyalty with cashback directly on the platform through its dine-in, pick-up, and home delivery services.
To date, Ahlan has attracted over 1,400 vendors and serves over 200,000 clients, rewarding them with more than $10 million in cashback credit. The platform enables Bahrain-based companies and vendors by offering its listed accounts with robust analytics and actionable insights that empower businesses to make data-driven decisions that optimize their delivery operations, reduce costs, and enhance overall customer satisfaction.
Faisal Rashed, Co-Founder of Ahlan, shared: “We are excited to announce the investment round in Ahlan led by Hope Ventures, as 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 sales solutions and other B2B platforms.”
This investment in Ahlan comes as part of Hope Ventures’ mandate of investing in promising, high-potential Bahraini businesses and SMEs with an unwavering commitment to building value with forward-thinking founders, with the objective of strategically accelerating their growth into new markets through Hope’s extensive regional network and resources, which results in economic growth and fostering a thriving business ecosystem.
Fajer Saleh Alpachachi, General Manager at Hope Ventures, commented on the investment: “We are thrilled to be announcing Hope’s investment in Ahlan. 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.”
Ahlan will utilize the funds raised to increase its market share. This strategic move will provide users and vendors with a one-stop platform for various services while delivering a seamless experience that enables them to save more money.
