Merit has successfully completed its series B funding round, raising US$28 million.

This funding round was led by Alistithmar Capital and Tech Invest Com, with additional participation from Endeavor Catalyst, Salica Investments, and Stride Ventures.

The Dubai-based company will use the raised funds to expand its presence in key markets, including Saudi Arabia, the UAE, and Egypt.

Additionally, Merit plans to enhance its technology infrastructure and product offerings.

They aim to implement an “Agent as a Service” model that uses AI tools to support business engagement and loyalty strategies.