Jordan’s Innovative Start-ups and SMEs Fund (ISSF) is investing $250,000 in Palestine-based digital loyalty and gamification platform Gamiphy.
The direct investment is part of the $1.55 million funding round led by Kuwait-based Al Muhallab VC, which also includes investments from the Bank of Palestine, Innovative Private Sector Development (IPSD) and other angel investors, according to a statement.
Gamiphy enables online businesses to launch omni-channel experiences for their customers, such as loyalty programs, branded games and on-site recommendations.
“ISSF has chosen to invest in Gamiphy… in appreciation of the importance of the technological solutions that contribute to the growth of the e-commerce sector,” said Mohammad Al-Muhtaseb, CEO of ISSF.
ISSF is Jordan’s largest investment fund of its kind. The private shareholding company seeks to provide funding for early-stage start-ups and small businesses.
(Writing by Cleofe Maceda; editing by Daniel Luiz)