UAE Startup Bundle Raises $5.5 Million for Rewards Platform
The pre-seed funding will support the expansion of Bundle's blockchain-powered rewards network into new markets.
Bundle, a UAE-based startup developing a blockchain-powered rewards platform, has raised $5.5 million in a pre-seed funding round to expand its international network and accelerate product development.
The round was led by Ethereal Ventures and Further, with participation from Nascent, GSR, Scenius Capital, Anchorage Digital and Nuwa Capital. Founded by Bader Al Kalooti and Mostafa Wanas, Bundle enables brands to pool their rewards budgets, allowing customers to compete for larger prizes without relying on widespread discounting.
During a pilot programme across five markets, the platform distributed $100,000 in rewards to more than 1,100 winners, including a top prize of $50,000. Bundle is now launching in Singapore, Vietnam and the Philippines, with more than 50 brands already participating.
"Bundle was built to level that playing field. We believe every business, regardless of size, should be able to offer their customers the kind of rewards that genuinely excite them, rather than relying on discounting, which is a race to the bottom," Bader Al Kalooti, Co-Founder and CEO of Bundle, said.
According to the company, the platform is designed to help businesses reduce customer acquisition costs by sharing rewards infrastructure while giving smaller brands access to prize campaigns typically associated with much larger companies. The newly raised capital will be used to expand Bundle into additional international markets and continue developing the platform.
