Resal Secures $9 Million in New Funding
Founded in 2018, Resal initially launched as a digital gifting platform before shifting in 2021 to focus on digital prepaid cards, rewards, and loyalty solutions.
Resal, a Saudi company specializing in digital cards, rewards solutions, and loyalty programs, has completed a $9 million investment round. The funding saw contributions from Derayah Ventures Fund, Al-Wafrah AlThanya Investment Company, Venture Souq FinTech Fund, ADDiriyah Asset Management, Nomad Holdings, Bugshan Investment Group, and several family offices and angel investors.[1]
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Founded in 2018, Resal initially launched as a digital gifting platform before shifting in 2021 to focus on digital prepaid cards, rewards, and loyalty solutions.
Resal plans to use the investments to grow its operations in Saudi Arabia. The company aims to expand into new sectors, introduce technology products for alternative payment solutions, and widen its loyalty and rewards programs. It also intends to build its partner network across different sectors.
Resal connects merchants, companies, and individuals by facilitating the management and exchange of loyalty points, prepaid cards, and vouchers from sources such as banks, telecom companies, airlines, and government entities. The company also offers platforms for merchants and businesses, connecting over 1,000 brands for loyalty point collection and exchange.