Tookeez, Pioneering Loyalty Program Startup, Raises $1.5M in Funding

Tookeez, Pioneering Loyalty Program Startup, Raises $1.5M in Funding

By Staff Writer, 09 March 2024

In a significant stride towards revolutionizing customer loyalty programs, Moroccan startup Tookeez has successfully secured $1.5 million in funding.

Spearheading the utilization of blockchain technology in loyalty programs, the company aims to redefine the landscape of loyalty schemes across Africa and the Middle East.

The investment round, led by Azur Innovation Fund, a prominent public-private seed capital fund headquartered in Casablanca, signifies a pivotal moment for Tookeez.

With this funding, the company is poised to embark on an ambitious expansion journey, targeting markets not only within Morocco but also across the wider Middle East and North Africa (MENA) region.

A substantial portion of the investment will be allocated towards fortifying Tookeez's core blockchain-based platform.

This strategic move underscores the company's commitment to enhancing its technological infrastructure to deliver unparalleled value to both businesses and consumers.

Founded by Hicham Amadi alongside sisters Wiam and Siham Elmejjad, Tookeez addresses a fundamental challenge plaguing traditional loyalty programs.

These conventional schemes often leave consumers dissatisfied with sluggish point accumulation mechanisms and limited redemption options.

On the flip side, businesses grapple with the complexities of managing intricate point conversion systems.

Tookeez's innovative approach offers a simple yet powerful solution, consolidating loyalty points from diverse programs into a secure digital wallet.

This consolidation empowers users to effortlessly transact across an extensive network of partner stores and brands, utilizing their accumulated points.

Meanwhile, businesses benefit from a streamlined system that facilitates seamless point-based redemption for their customers.

With this infusion of capital, Tookeez is poised to carve a niche as a trailblazer in Africa's loyalty program landscape.

The company sets an ambitious target of reaching 4 million active users by 2028, aiming to transform the way businesses engage with their customers while fostering enduring loyalty in an increasingly competitive market.

Source: Empower Africa

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