tookeez Secures $1.5 Million in Fundraising Round to Revolutionize Loyalty Programs in Africa and MENA Region

Moroccan FinTech start-up tookeez has made waves in the loyalty program landscape by announcing a significant fundraising round of $1.5 million. The operation, carried out with Azur Innovation Fund, a renowned public-private seed capital fund, aims to elevate the customer loyalty experience across Africa and the MENA region.

Traditional loyalty programs have long been a cause of frustration for consumers, with slow point accumulation, difficulty redeeming rewards, and limited reward options. Additionally, for brands and retailers, navigating the conversion of loyalty points into meaningful gifts poses challenges.

Founded by Hicham Amadi and the sisters Wiam and Siham Elmejjad, who are also CEOs and founders of various IT companies, including Moroccan loyalty program specialist 2WLS, tookeez addresses these challenges with an innovative solution. It introduces a universal digital value unit for loyalty point conversion, facilitating 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 allows 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.