Saudi Arabia’s SaaS and enterprise-tech scene is heating up as Bonat, a Riyadh-based customer engagement and loyalty platform, announced a $6 million Series A funding round to expand its operations across the Kingdom and the wider GCC. The raise highlights investor confidence in the country’s growing loyalty and analytics ecosystem, where startups are increasingly integrating digital customer engagement tools into retail and F&B operations.
Founded in 2018 by Abdulrahman Alkhathlan, Bonat provides a software as a service platform that helps businesses build analytics-driven loyalty programs, unify online and offline data, and drive customer retention through real-time insights. The system allows restaurants and retailers to integrate with point-of-sale (POS) systems and payments infrastructure, offering merchants a seamless way to personalize rewards and track repeat purchases. Bonat’s user friendly dashboard and data tools enable brands to monitor engagement metrics, design tailored offers, and measure the lifetime value of their customers, capabilities that are increasingly in demand as Saudi consumers shift toward digital-first experiences.
The new Series A round builds on Bonat’s 2021 seed funding, which was led by Impact46 with participation from the Saudi Venture Capital Company (SVC) and several angel investors. That early capital helped Bonat onboard more than 100 brands across Saudi Arabia, including Elixir Bunn, Less Café, and Greens, giving it an early foothold in the Kingdom’s competitive F&B loyalty space. With this new investment, the company plans to enhance its analytics engine, expand integrations with regional POS systems, and enter key GCC markets such as the UAE, Kuwait, and Qatar.
Bonat’s rise comes as Saudi Arabia’s loyalty and rewards market enters a new phase of digital maturity. Leading programs such as Qitaf by stc, Resal, and Mokafa have already redefined how consumers earn and redeem rewards, while emerging players like Mithu focus on tailored experiences for small businesses and coffee brands. Bonat’s data-centric approach complements these loyalty ecosystems by providing SaaS infrastructure that lets retailers and restaurants design and manage their own branded programs rather than rely on third-party reward aggregators.
Saudi Arabia’s SaaS market is projected to grow from $2.86 billion in 2024 to $6.49 billion by 2030, at a CAGR of nearly 15 percent, according to TechSci Research. At the same time, the country’s venture ecosystem is seeing record activity: MAGNiTT data shows Saudi startups raised over $1.3 billion in the first half of 2024, accounting for roughly 65 percent of MENA’s total startup funding. Enterprise software, customer data, and fintech remain the Kingdom’s fastest-growing verticals.
For Bonat, the latest funding represents more than a growth milestone, it marks the evolution of Saudi Arabia’s loyalty landscape from legacy, points-based schemes to data-powered engagement systems that enable brands to better understand and retain customers. As the company strengthens its technology stack and pushes into new GCC markets, it joins a new class of Saudi SaaS innovators reshaping how businesses build loyalty in an increasingly digital economy.
Saudi Loyalty startup Bonat Raises $6M, Eyes GCC Expansion