Naseba Facilitates GCC’s First ‘Series A’ Enterprise Blockchain Capital Raise

Naseba Facilitates GCC’s First ‘Series A’ Enterprise Blockchain Capital Raise
21.06.2017 09:00 am

Naseba Facilitates GCC’s First ‘Series A’ Enterprise Blockchain Capital Raise

Blockchain

US-headquartered loyalty and rewards platform, Loyyal, has secured the GCC’s first ‘series A’ enterprise grade blockchain capital raise. Built on blockchain and smart contract technology, Loyyal has revolutionized how loyalty programmes are run and rewards delivered.

The deal was facilitated by Naseba’s investor introduction division, with Saudi-based financial services company Integrated Networks (iNet) as the lead investor and supplemented by the region’s leading exchange house, UAE Exchange Group.

The deal, closed in just four months, positions iNet and UAE Exchange not only as investors, but also as Loyyal’s strategic partners.

“Enterprises in the region are beginning to switch from buying solutions off the shelf to a strategy of blending private equity/venture capital with traditional tech purchases,” said Nicholas Watson, Managing Director, Naseba, a global business facilitation company that has enabled technology deal-flow since 2003.

This deal, as a blueprint, sets precedent in helping regional enterprises expedite innovation. Recognizing this trend, Naseba has championed adoption through deal facilitation platforms. It supports companies looking to secure investments or commercial deals with partners and buyers, by combining market intelligence with B2B introductions.

“There’s an incredible opportunity for tech companies here to leverage digitization programmes backed by government and private sector entities,” said Watson. “We are grateful to Loyyal for letting us share in their success and highlight their story.”

Gregory Simon, CEO and Co-Founder, Loyyal, added: “Being present in the region through our local office, clients, investors and partners such as Naseba have enabled us to learn the ins and outs of making business happen here. We believe this region will become the heart of cutting-edge blockchain innovation. Like all startups, we were bootstrapping our capital raise process, but ultimately decided to partner with Naseba to leverage their history and business network. They have access to information that many others don’t, which allowed us to achieve tangible outcomes in the region’s largest economy, Saudi Arabia.”

“Through blockchain, Loyyal’s model provides significant cost-savings for the multi-billion loyalty and rewards industry. The GCC is a great market for us to deliver this in.”

Naseba and Loyyal are moving to the next stage of their plans to roll out enterprise blockchain in the region, which includes sharing Loyyal’s story at Naseba’s Enterprise FinTech Summit taking place in Dubai this October.

Related News

Quant Network and SIA successfully tested blockchain interoperability

Quant Network, a leading pioneer in enterprise blockchain technology, and SIA, European hi-tech company leader in the fields of payment... Read more »

ConsenSys Codefi Announces Ethereum 2.0 Staking Pilot Program with Six Members

ConsenSys Codefi is launching an Ethereum 2.0 staking-as-a-service platform with institutional functionality for... Read more »

First Turkish-German trade finance transaction on Marco Polo blockchain network with İşbank and Commerzbank

İşbank and Commerzbank have jointly run an international trade finance transaction based on distributed ledger technology (DLT). Payments were secured by digitally processing... Read more »

The blockchain platform Factorin has transformed the trade finance market in Russia in only a year since its launch

In only a year, a young technology company was able to change the trade finance market in Russia. The distributed platform automates the interaction of the customers’,... Read more »

VALK offers BT Radianz Cloud Community access to Corda blockchain platform

VALK, an innovative technology provider offering a software that digitizes the management, investment and trading of unlisted assets, today announced that it... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel