Equivator, a Saudi-based private equity firm, has announced a strategic investment of SAR 30 million (USD 8 million) in Related, a UAE-headquartered company specialized in loyalty and rewards technology.
This milestone deal is set to reshape the fintech-loyalty landscape in the Kingdom and contributes to positioning Saudi Arabia as a regional and global hub for financial technology and customer engagement, in line with Vision 2030.
The partnership aims to accelerate Related’s expansion in Saudi Arabia, support the launch of innovative solutions driven by AI, blockchain, and customer experience, and reinforce Related’s leadership in loyalty and rewards across the MENA region.
Founded in 2014, Related has evolved from a consultancy into a MarTech powerhouse, currently serving over 30 million users across the GCC and Levant. It powers loyalty programs for leading institutions in telecom, banking, retail, utilities, and entertainment.
Rabih Farhat, CEO of Related, stated:
“We are thrilled to welcome Equivator as a strategic partner on our journey to redefine loyalty and engagement in the region. This partnership is more than a transaction—it’s a transformation, a joint mission to reshape the future of fintech-powered loyalty solutions in line with the Kingdom’s innovation agenda.”
Enes Şehzade, CEO of Equivator, commented:
“This is a strategic deal to build a regional champion in loyalty and digital payments. Together, we aim to drive a new era of data-driven customer engagement and reward innovation.”
The investment builds on Equivator’s prior involvement in the B2C loyalty space through its earlier stake in Uplines, which Related has now fully acquired. The acquisition sets the stage for a bold relaunch featuring AI tools, a blockchain-based rewards platform, gamification features, and digital payments.
Equivator will also support Related’s expansion into Europe, while helping launch the “Related Loyalty & Fintech Authority”, a regional knowledge and policy forum designed to solidify Related’s thought leadership in the space.
