Bundle, a UAE-based rewards platform for business loyalty programs, said on July 30 that it secured US$5.5 million in a pre-seed round led by Ethereal Ventures and Further Ventures.

The company plans to expand across Asia-Pacific, starting with Singapore, the Philippines, and Vietnam.

The company said it will use the funding for product development, regulatory work, partnerships, and market launches.

It added that more than 50 founding brands have joined the platform ahead of the rollout.

Bundle said a pilot involving five companies across five markets rewarded more than 1,100 winners and distributed over US$100,000, including a top reward of US$50,000.

Further Ventures said its venture arm backs companies in financial and digital-asset markets.

Regulatory spending may be significant. A promotions-law overview says prize campaigns in Singapore and the Philippines can involve strict requirements, including possible registration or bonding obligations in the Philippines.

Bundle is entering a growing market, with Asia-Pacific loyalty spending projected to reach US$52.05 billion in 2024.

Singapore is also competitive, with 29% of consumers using at least one rewards program in the past three months, according to YouGov.

🔗 Source: Bundle

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