The first investment round of Ahlan App, the Bahraini loyalty program, was fully subscribed to and raised $3 million at a valuation of $15 million. Hope Ventures led the round. Reputable angel investors and top-tier private sector backer Al Rajhi Holdings also participated in the round.
Ahlan is a delivery platform and loyalty program based in Bahrain that was established in 2021. It offers dine-in, pick-up, and home delivery options, and rewards its patrons for their loyalty with cashback directly on the platform.
Ahlan has served over 200,000 clients and drawn in over 1,400 vendors, rewarding them with over $10 million in cashback credit to date. By providing its listed accounts with robust analytics and actionable insights, the platform helps vendors and businesses in Bahrain. These insights enable businesses to make data-driven decisions that optimize delivery operations, cut costs, and improve 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 programmes in the region and solidifies our position as a trailblazer in the loyalty programme 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.”
As part of its mission to invest in promising, high-potential Bahraini companies and SMEs, Hope Ventures has made this investment in Ahlan. The company’s founders are forward-thinking, and Hope’s extensive regional network and resources will help them strategically accelerate their growth into new markets, resulting in economic growth and the development of 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.”
With the funds raised, Ahlan plans to grow its market share. With a seamless experience that allows them to save more money, this calculated move will give users and vendors a one-stop platform for a variety of services.
