Moroccan fintech startup tookeez has made headlines in the loyalty program landscape with the announcement of a substantial fundraising round totaling $1.5 million. Conducted in partnership with Azur Innovation Fund, a prominent public-private seed capital fund, the operation aims to revolutionize the customer loyalty experience across Africa and the MENA region.
Traditional loyalty programs have long been a source of frustration for consumers, characterized by slow point accumulation, challenges in redeeming rewards, and limited options for rewards. Additionally, brands and retailers face difficulties in converting loyalty points into meaningful gifts. Founded by Hicham Amadi and sisters Wiam and Siham Elmejjad, who also serve as CEOs and founders of various IT companies, including Moroccan loyalty program specialist 2WLS, tookeez addresses these challenges with an innovative solution. Introducing a universal digital value unit for loyalty point conversion, the platform facilitates flexible usage across an extensive network of retail partners.
tookeez: The Universal Loyalty Program Aggregator
tookeez operates as a universal system that aggregates loyalty points from diverse brands into a single wallet. This wallet enables transactions across a vast network of shops and brands, transforming the platform into a supplementary source of revenue.
Designed to meet the needs of brands, retailers, and end consumers, tookeez offers various benefits:
For Brands: tookeez allows brands to maintain the identity of their loyalty programs while offering customers a straightforward and instant means to pay with their points across a diverse network.
For Retailers: Serving as a digital inclusion tool, tookeez provides accessible loyalty programs for retailers, particularly small businesses. It becomes an additional income source, attracting tookeez members to use this universal value unit in their stores.
For Consumers: tookeez enables members of different loyalty programs to accumulate points and convert them within a broad network of partners, providing flexibility and choice.
African and International Ambitions
With the latest fundraising round, tookeez plans to accelerate its expansion in Morocco, throughout the continent, and in the MENA region. Simultaneously, it will continue investing in technical development, particularly focusing on blockchain technology. The roadmap includes opening operations in a second African country by 2026.
Siham Elmejjad, CEO of tookeez, expressed gratitude for the investors’ trust, emphasizing the fundraising as a crucial step in their development. The goal is to reach 4 million active members by 2028, positioning tookeez as a genuine ecosystem for economic and financial inclusion in the region.
Adnane Filali, President of Azur Innovation Fund, expressed pride in partnering with tookeez, highlighting the FinTech startup’s role in redefining the customer loyalty ecosystem. The collaboration reflects Azur Innovation Fund’s vision to support entrepreneurs making a significant impact globally, with tookeez perfectly embodying this vision.
Source: Innovation Village