Resal, the leading Saudi company in digital cards, rewards solutions, and loyalty programs, announced the successful closure of a $9 million investment round with participation 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 angels investors.

Resal indicated that the investments from this round will be utilized to accelerate its business growth within the Kingdom by expanding its targeting of new sectors, launching various technological products for alternative payment solutions, loyalty programs, and rewards, in addition to expanding its partner network and infrastructure across several different sectors.

On this occasion, Hatem Kameli, Co-founder and CEO of Resal, stated, "Our success in securing these investments is a significant testament to the investors' and partners' belief in Resal's role and its team's efforts in developing an effective digital ecosystem that contributes to providing innovative solutions in loyalty programs, digital rewards, and alternative payments, in alignment with Saudi Arabia's Vision 2030." He further commented on the company's growth, saying, "We have doubled our sales growth recently and have increased the number of beneficiaries of our solutions to more than 1.5 million users and over 1,000 entities and organizations across more than 15 sectors. This investment strengthens our confidence in delivering an ideal experience and launching a number of innovative solutions and products."