As a result of the investment, Lorax Capital have acquired a minority stake in Dsquares' umbrella body, DSQ Group.
Cairo-based full-service loyalty solutions provider, Dsquares, has announced that it has raised new investment from Egyptian private equity firm, Lorax Capital, who have acquired a minority stake in the startup’s umbrella body, DSQ Group, as a result.
Founded by Marwan Kenawy, Ayman Essawy and Momtaz Moussa in 2012, Dsquares currently operates in Egypt, Jordan, Romania, Kenya, Tanzania, Morocco, Saudi Arabia and the UAE, working with over 900 brands and 11,000 outlets across a variety of sectors. They provide clients and partners full service in the technical, operational, and commercial aspects needed to launch loyalty programs and increase customer loyalty and retention.
Outside of their B2B solutions, Dsquares also launched an app in 2019, Lucky, which offers customers discounts on different brands and retailers. Allowing customers to redeem the discounts via QR codes, the app has been downloaded over 5 million times. With this latest investment, Dsquares intends to scale its product offerings, while exploring expansion, both across Egypt and MENA.
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