Merit Raises $12 Million in Pre-Series B

by Kay Aloha Villamor in May 21st, 2024

Merit, a Dubai, UAE-based SaaS provider specializing in customer and engagement technology, has raised $12 million in a pre-Series B funding round.  


The round was led by Alistithmar Capital i-Cap and supported by existing Series A investors, including Tech Invest Com and Hambro Perks Oryx Fund.  

AlIstithmar Capital is a Saudi Limited Liability investment company and a subsidiary of the Saudi Investment Bank. The company specializes in asset management, investment banking, and brokerage services.  

Merit Use of Funds  

The company will use the funds to develop its technology to enhance customer engagement. The funds will enable Merit to roll out refined innovations and leverage insights gained from a surge in customer interactions experienced in 2023.  

About Merit   

Founded in 2016 by Julie Barbier-Leblan and Thrishan Padayachi, Merit is a global engagement technology and solutions company that assists businesses to increase customer and employee engagement via a suite of cloud-based SaaS platforms, enterprise solutions, applications, and software. With offices in Dubai, London, Riyadh, Kuwait, Cairo, and Singapore, Merit operates in more than 160 countries, collaborating with over 6,000 brands.

Funding Details                         

Company: Merit Incentives   

Raised: $12.0M                      

Round: Pre-Series B  

Funding Month: May 2024          

Lead Investors: Alistithmar Capital i-Cap  

Additional Investors: Tech Invest Com, Hambro Perks Oryx Fund  

Company Website:  

Software Category: Customer and Engagement  


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