To reshape the fintech-loyalty landscape in the region, Equivator, a leading alternative investment firm, has invested SAR 30 million in Related, the pioneer in loyalty and rewards solutions. Founded by Lebanese co-founders and supported by a dedicated team, Related’s success reflects years of innovation and determination.
Lebanon’s economic collapse, COVID-19 lockdowns, and the devastating Beirut port explosion shook the country’s business sector. Despite these challenges, Rabih Farhat, founder and CEO of Related, stayed determined.
His approach not only kept the company alive but also positioned it for regional success. Founded in 2014, Related’s journey from navigating crisis to securing one of the sector’s largest funding rounds is a testament to years of innovation, dedication, and teamwork.
The Vision Behind Related
After years in consulting focused on loyalty and rewards across the region, Rabih identified a critical gap in the market.
“Most agencies specialized in either strategy or execution, but never both,” he explains. “Throughout my career, I had built loyalty strategies for major brands, yet very few were implemented successfully or to their full potential.”
That frustration became his driving force. Related was founded on a simple but powerful premise: when loyalty solutions are properly designed and executed together, they can transform customer experiences and become powerful growth drivers for brands.
Opportunity Within Crisis
In its early years, Lebanon was positioned as a thriving startup hub, making Beirut an ideal base for a tech company serving the GCC. However, by 2019, the landscape shifted dramatically due to mounting financial pressures, currency fluctuations, public health challenges, the Beirut port explosion, and broader regional instability.
“The impact on financial planning, operations, and team morale was immense,” the CEO said. “Yet, choosing to keep our back office in Lebanon, despite the odds, was one of the hardest and proudest decisions we made as a team.”
Rather than viewing these challenges as insurmountable obstacles, the Related team found opportunity within the crisis. The financial collapse allowed them to attract top tech talent who might otherwise have been out of reach. During COVID-19 lockdowns, their digital transformation tools gained strong traction as clients sought ways to enhance customer experience remotely.
The Beirut Digital District (BDD) ecosystem played a pivotal role during these challenging times.
“BDD provided more than just infrastructure. They supported us as a team through difficult moments,” the CEO explained. “They helped us manage rent during tough periods and ensured we could continue operations despite shortages of electricity, internet, and water in the country.”
The SAR 30M Milestone
The recent funding from Equivator represents a pivotal moment for Related’s growth trajectory. This investment will accelerate innovation across their loyalty and rewards platform, including the launch of AI-powered modules and gamification tools. With this funding, Related plans to expand its footprint in Saudi Arabia and the wider region, bridging the gap between loyalty programs and fintech.
“This partnership is a collaborative effort to reshape the future of fintech-powered loyalty solutions in line with the Kingdom’s innovation agenda,” the CEO said.
The strategic importance of this funding extends beyond capital. What began as a casual coffee meeting in Riyadh evolved into a shared vision for the future of loyalty and fintech, with strong alignment between Related and Equivator from the beginning.
Team at the Heart of Success
Related’s rapid growth, tripling in size since 2024, is a testament to the dedication and expertise of its exceptional team. Their success is driven by three core principles: a commitment to delivering high-quality solutions with speed, a culture of continuous innovation to improve loyalty experiences, and a client-first approach that builds trust by understanding each partner’s business goals and internal dynamics.
“Our culture reflects our core values: empathy, integrity, encouragement, and meaningful reward,” the CEO explained. “These values define how we work, grow, and support each other.”
This team-first approach has resulted in one of the highest employee retention rates in the industry, underscoring the strength of Related’s culture and its ability to attract and retain top talent.
Expanding in Saudi Arabia Through Strategic Acquisition
Related’s acquisition of Uplines demonstrates their strategic approach to growth. This move enabled them to fast-track their legal presence in Saudi Arabia and strengthen access to key government entities and large enterprise clients.
The acquisition aligns perfectly with Related’s broader vision to converge loyalty and fintech across the region, positioning them to launch breakthrough products in Saudi Arabia that redefine how consumers interact with rewards and payment solutions.
Supporting Saudi Vision 2030
Related’s work directly supports Saudi Vision 2030 by driving digital innovation, enabling fintech adoption, and using AI to deliver more personalized customer experiences. Loyalty and rewards programs play a crucial role in building a vibrant, technology-driven economy that’s diversified, sustainable, and globally competitive.
Their partnerships reflect this commitment. Related has joined forces with key players in the ecosystem, including PIF-backed entities and leading regional funds, designed to scale innovation and ensure Related plays a central role in shaping the next chapter of customer experience and fintech in the Kingdom.
Related’s track record speaks to their effectiveness. One standout example involves their work with one of the largest Islamic banks in the region. Tasked with designing and launching a comprehensive loyalty and rewards program, Related delivered exceptional results: within nine months, the program exceeded all key performance indicators, driving a 40% increase in customer engagement, a 30% boost in card spend, and a 15% reduction in attrition.
The program later received the “Best Use of Payments in a Programme” award in EMEA by the Global Incentive Awards Association, a testament to Related’s approach of understanding each client’s unique business objectives and challenges, then crafting solutions that align with their goals and timelines.
Looking Forward
Related’s next major goal is to lead the integration of loyalty and fintech, making rewards an easy and natural part of the payment process. “We envision a world where earning and redeeming loyalty points is effortless, embedded into every transaction,” the CEO said.
The company is determined to become a leading authority for loyalty innovation in the region while expanding its influence globally by focusing on creating meaningful and enjoyable experiences for consumers. Related aims to redefine how loyalty programs enhance everyday interactions.
For Lebanese founders navigating tough challenges, the Related team offers a powerful example of resilience and strategic thinking. They emphasize the importance of deeply researching your market, exploring diverse opportunities, finding trusted mentors, and staying grounded.
Entrepreneurship is deeply ingrained in Lebanese culture, but today’s environment demands more than ambition. It requires strategic thinking, global awareness, and structured execution. Related’s journey from a Beirut-based startup navigating multiple crises to securing SAR 30 million in funding and expanding across the Gulf is a testament to what careful planning, resilience, and teamwork can achieve.
As the story evolves, one thing is certain: Related remains committed to delivering happiness throughout the customer journey, whether through digital platforms or physical interactions. With Equivator’s investment and Saudi Arabia’s Vision 2030, the company is poised for even greater opportunities, driven by the collective effort of its exceptional team.
