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CheckRewards Secures $1.2 Million Mitgo Investment

The cashback service uses machine-learning technology to help consumers access promotions and track their expenses.

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checkrewards secures $1.2 million mitgo investment
Mitgo

CheckRewards, a cashback service that uses cutting-edge machine learning technology, is entering the MENA region after successfully launching Android and iOS apps in the UAE. Backed by a $1.2 million cash injection from the Mitgo Group, CheckRewards is set to redefine the cashback experience for shoppers and businesses in the Middle East and North Africa.

CheckRewards works as a smart shopping companion that assists with budget management. The app provides access to promotions, cashback rewards, and features receipt scanning and expenditure tracking to help users keep up with their finances. The startup plans to onboard 50 major retail and food brands, including Noon, Amazon, Sharaf DG, Samsung, Dyson, Starbucks, and H&M.

For businesses, CheckRewards allows better engagement with customers and the quick launch of promotions without complex technical integrations. Brands can precisely target specific audiences based on their preferences, boosting sales volumes and customer loyalty.

Alexander Bachmann, CEO of Mitgo Group, commented: “We recognize the immense potential within CheckRewards and firmly believe in their vision for the MENA market. This strategic collaboration is well-positioned to reshape the cashback landscape in the region, offering unparalleled opportunities for both consumers and businesses”.

Also Read: Top E-Commerce Websites In The Middle East In 2023

Artem Ostapenko, CEO of CheckRewards, added: “We are thrilled to introduce CheckRewards to the MENA region, where the demand for cashback services is on the rise. CheckRewards stands as a unique solution, presenting remarkable advertising opportunities, including geo-targeting and customer preference-based targeting. We are eager to transform the cashback experience for users and foster business growth in this dynamic region”.

The MENA region presents a tremendous opportunity for the new solution as the popularity of cashback services continues to grow. According to a Statista report, retail sales in the UAE alone were estimated at around US $74 billion and are forecasted to pass US $114 billion by 2026.

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LEAP 2024 Will Shine A Light On Female Innovators In Technology

Women comprise nearly a third of the event’s speaker lineup alongside a dedicated program of high-level content, investment, and mentorship.

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leap 2024 will shine a light on female innovators in technology

LEAP 2024, a premier global technology event, will highlight the achievements of women in the technology sector as it returns for its third edition at the Riyadh Exhibition and Convention Centre in Malham district from March 4 to 7.

Hosted by Tahaluf, a strategic collaboration between Informa PLC, the Events Investment Fund (EIF), and the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP), LEAP 2024 will feature a dedicated program titled “Women in Tech”. The program will offer enriching content, investment opportunities, networking sessions, mentorship programs, and a special startup award.

leap 2024 event women in tech

The initiative aims to inspire women to actively participate in the technology industry, aligning with broader diversity efforts. Reflecting the Kingdom’s commitment to equality, the focus on “Women in Tech” coincides with the increasing female participation at LEAP events.

Annabelle Mander, Senior Vice President of Tahaluf, emphasized the event’s commitment to gender inclusivity, stating, “Female representation is across all of LEAP’s features and reflects the event’s mission of driving economic diversification and providing market access to international business. Within Tahaluf itself, half of our team members are women, and women make up half of our SMT, too”.

Also Read: Saudi Arabia Aims For 70% Cashless Transactions By 2025

The “Women in Tech” program will feature distinguished speakers including Nadine Hachach Haram, CEO and Founder of Proximie, and Sahar Albanarna from IMPACTIQUE Bahrain, who explained: “Over 26 million women worldwide with professional experience and degrees are not in the global workplace. This demographic includes a huge pool of untapped talent which technology can help unleash to fuel the co-creation of exponential solutions across multiple sectors. To help women access productive employment, we urge industry leaders to support high-impact female entrepreneurs as a means to boost their economies and accelerate the UN’s sustainable development goals by promoting inclusive and sustainable economic growth”.

The event will also provide a platform for female-led startups and entrepreneurs to pitch for funding and support through various initiatives such as the Women’s Investor Forum, Entrepreneur Mentorship Scheme, and the Aviatrix Award at the Rocket Fuel pitch competition, offering a prize fund of US$150,000.

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