Merit Secures $12 Million in Pre-series B Financing
This funding follows an earlier Series A investment of $5 million in 2021 with TechInvest.
Merit, a global engagement technology firm, has secured $12 million in pre-Series B financing, surpassing its initial goal of $5 million.[1]
This oversubscribed funding round was led by Alistithmar Capital i-Cap, with participation from existing Series A investors, including Tech Invest Com and Hambro Perks Oryx Fund.
The funding round builds upon Merit's earlier Series A investment of $5 million in 2021, which saw participation from notable investors such as Impact46, Arzan VC, and several renowned regional angel investors.
Merit, known for its cloud-based SaaS platforms and enterprise solutions, was among the first companies selected for the RELOCATE program in 2023, relocating its regional headquarters to Saudi Arabia.
Co-founders Julie Barbier-Leblan and Thrishan Padayachi are recognized as Entrepreneur Saudi Premium Residents under the Saudi Premium Residency Entrepreneurship Program.
Additionally, they are part of the Endeavor Saudi Arabia Chapter, contributing to a global community of high-impact entrepreneurs.