Dubai-based technology startup, Repeat has announced it raked in $2.5 million in a rather successful Series A funding round. The company now finds itself in an ideal position to scale up operations in the home turf, while possibly eying on an expansion into the broader region.
For those of you who have never heard about the startup, Repeat touts itself as the first smart loyalty program for restaurants that offers dynamic rewards to customers based on their spend and frequency of visit.
According to the company, it has the perfect mutually beneficial solution that merchants and consumers can both benefit from. Specifically, it enables restaurants to boost revenues while extending targeted and customized rewards to loyal customers.
The Repeat smart loyalty program went officially live in Q1 2019 and has expanded its clientele to more than 400 restaurants since. The company claims to have helped restaurants on its platform to increase revenue by around 25% for all transactions processed through its app.
“The F&B sector has embraced Repeat and the pace of adoption is very fast because we are the only app in the world which offers merchants the flexibility, insights, and control they need, unlike other voucher or discount-based programs which do not build loyalty, distort the value proposition of the restaurant and cannibalize their margins,” said Omar Gurel, co-founder of Repeat.
The Dubai-based startup aspires to evolve into an all-in-one personalized pricing service encompassing loyalty programs for various sectors including food & beverages, as well as hospitality services such as spas and beauty salons.