Dubai-based Bundle, a networked rewards platform that allows businesses to pool their marketing budgets into shared prize funds, has raised $5.5 million in a pre-seed funding round led by Ethereal Ventures and Further Ventures.

In a statement on Thursday, Bundle said it would utilize the proceeds in product development, regulatory coverage, strategic partnerships. It will also launch across Singapore, the Philippines, and Vietnam, where more than 50 founding brands have already joined ahead of rollout.

Participating brands achieved conversion uplifts of up to 4 times, compared with traditional promotional campaigns, according to the company.

Bundle’s model allows small and medium-sized enterprises (SMEs) to combine incentive budgets into shared reward pools, giving smaller companies access to larger rewards previously only available to large enterprises. Customers earn tickets and participate in shared reward pools through everyday interactions such as purchases, referrals, or other eligible actions.

The platform manages the underlying rewards infrastructure and regulatory framework, allowing brands to launch campaigns across multiple markets through a single platform.

Bader Al Kalooti, Co-founder and CEO of Bundle, said businesses have long relied on discounts and cashback to attract customers. But these have become increasingly ineffective as acquisition costs rise. Bundle can help as people are motivated by the opportunity to earn something meaningful rather than small discounts.

Min Teo, Managing Partner at Ethereal Ventures, said Bundle uses shared rewards and blockchain infrastructure to help brands drive loyalty and customer growth at scale. Robbie Nakarmi, Partner at Further Ventures, said the shared rewards network gives brands of all sizes access to larger rewards to drive higher conversions at a fraction of the cost.

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