Algebra Ventures and Ezdehar Management invests in Dsquare, MEA’s fastest growing loyalty solutions provider. This investment comes ahead of Dsquares’ launch of its consumer tech product, the Lucky Discount App.
“We’re pleased to partner with Algebra Ventures, a VC that we think is of great value to its portfolio companies across different segments,’ says a Dsquares’ spokesperson. ‘We believe that being backed by Algebra’s consumer-tech experience will significantly enhance Dsquares’ development and future expansion strategy in the consumer apps business.”
Algebra believes that the combination of Dsquares’ impressive track record in the B2B loyalty business has uniquely positioned it to bring loyalty services into the hands of consumers all over the Middle East and Africa. The launch of Lucky Discounts App and a strategic partnership with Algebra Ventures will expose Dsquare to innovation and technology. It will also enable them serve brands and consumers all over Africa and the Middle East.
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Dsquares also has premises in Dubai, Riyadh, Jordan and Tanzania. It currently serves more than 75 million members and is supported with an extensive network of merchants in more than 7000 stores globally. Their clients includes Renault, Holiday Inn, Intercontinental, KFC, Burger King, GAP, Vodafone, Orange, Vodacom, MasterCard, Visa, HSBC, P&G, PepsiCo, Hyundai, Uber, Petronas, Shell and Mercedes Benz.
Algebra Ventures, a $50-million Cairo-based venture capital fund has invested in 15 transformative technology companies in MENA, including HolidayMe, Trella, Elmenus, GoodsMart, and Halan.