• Bundle, a UAE-based Web3 rewards startup founded by Bader Kalooti alongside Mostafa Wanas, has emerged from stealth after raising $5.5 million in a pre-Seed round led by Ethereal Ventures and Further, with participation from Nascent, GSR, Scenius Capital, Anchorage Digital, and Nuwa Capital.
• The startup is building a blockchain-powered rewards platform that enables brands to pool their incentive budgets into shared reward pools, allowing businesses to offer larger rewards while lowering customer acquisition costs.
• During a pilot across five markets, Bundle distributed $100,000 to more than 1,100 winners, including a $50,000 grand prize, while participating brands recorded conversion rates of up to 4x compared with traditional incentive campaigns.
• Bundle plans to launch initially in Singapore, Vietnam, and the Philippines with more than 50 founding brands, using blockchain technology and stablecoins to power transparent and cross-border reward distribution.

Press release:

Bundle today announced the launch of the world’s first networked rewards platform, introducing an entirely new approach to customer acquisition, engagement and retention.

For decades, brands have relied on discounts and cashback to attract customers. Yet customer acquisition and retention costs continue to rise, conversion rates continue to decline, and businesses sacrifice billions of dollars in margins every year on incentives that customers increasingly ignore.

Closing the Gap

Bundle is built on the insight that, in today’s age, people are more motivated by the opportunity to earn something meaningful rather than small discounts. The business model responds to an existing gap within the sector, where most businesses, particularly SMEs, cannot afford to offer rewards large enough to capture customer attention.

Offering an alternative to isolated rewards programmes, Bundle enables brands to combine their incentive budgets into shared reward pools. By participating in the network, every business gains access to rewards far larger than they could offer independently, giving SMEs the ability to compete with the marketing power of much larger companies.

“Bundle was built to level that playing field. We believe every business, regardless of size, should be able to offer their customers the kind of rewards that genuinely excite them, rather than relying on discounting, which is a race to the bottom.”

Bader Al Kalooti, Co-Founder & CEO of Bundle

A Seamless User Experience

For users, everyday interactions such as making a purchase, referring a friend, or completing another eligible action become opportunities to earn Bundle tickets and participate in shared reward pools. For brands, it delivers a more engaging incentive model with predictable costs and stronger marketing performance.

The platform also removes much of the operational complexity traditionally associated with promotional campaigns. Bundle manages the underlying rewards infrastructure and regulatory framework, allowing brands to launch campaigns across multiple markets through a single permitted platform.

Bundle also represents a practical consumer application enabled by Web 3 rails to drive mainstream adoption of blockchain technology. While brands and consumers enjoy a familiar Web2 experience, rewards are distributed using modern stablecoin payment infrastructure, enabling low-cost global payouts and seamless withdrawals via licensed PSPs without any complexity.

Momentum, Funding & Expansion

Early results have demonstrated strong momentum. During its pilot across five markets with five companies, Bundle rewarded more than 1,100 winners, distributing US$100,000 in total rewards, including a top prize of US$50,000. Participating brands also recorded conversion uplifts of up to four times compared with traditional incentive campaigns.

Through its compliance-based operating model, Bundle will look to launch initially across Singapore, Vietnam and the Philippines, where more than 50 founding brands have already joined the platform. With a view to accelerating its expansion into global markets, Bundle has newly closed a US$5.5 million pre-seed financing round led by Ethereal Ventures, founded by Ethereum co-founder Joe Lubin, and Further Ventures, with participation from Nascent, GSR, Scenius Capital, Anchorage Digital and Nuwa Capital.

“The next wave of blockchain businesses like Bundle will drive mainstream consumer applications by feeling native to users and solving real problems. It is a perfect example that uses shared rewards and blockchain rails to help brands drive loyalty and customer growth at scale.”

Min Teo, Managing Partner at Ethereal Ventures

“Through its innovative shared rewards network, Bundle now gives brands of all sizes access to larger rewards to drive higher conversions from their marketing campaigns at a fraction of the cost, creating a more effective way to engage customers. We’re excited to support the company as it expands across Asia and beyond to redefine how businesses approach incentives.”

Robbie Nakarmi, Partner at Further Ventures

In addition to accelerating its launch across key markets, funding provided by Ethereal Ventures and Further Ventures will be used to support Bundle’s product development and strategic partnership investments