Bonat, a Riyadh-based AI-driven customer engagement platform, has raised US $6 million (≈ SAR 23 million) in a Series A round.
The round was led by Tali Ventures, the corporate venture capital arm of stc group.
Other participating investors include anb Seed Fund, Rua Growth Fund, RZM Investments and a network of angel investors.
Company Profile & Growth Trajectory
Bonat was founded in 2019 by Saud Binsaeed (and co-founder Bader Alfouzan) as a platform that helps merchants convert walk-ins into loyal customers via AI-driven analytics, behaviour-based marketing automation, and digital wallet integrations.
To date, the company supports thousands of retailers and F&B brands across Saudi Arabia and connects with over six million end users.
Its core proposition: an “all-in-one” ecosystem blending advanced analytics, engagement tools, digital wallets and marketing automation — enabling measurable growth for merchants.
Where the Funding Will Be Deployed
With this injection of capital, Bonat plans to:
- Deepen its AI capabilities, enhancing how it processes and acts upon customer data.
- Roll out personalised campaign automation, enabling merchants to execute tailored marketing at scale.
- Expand into new verticals beyond its current focus (such as broader services and retail segments).
- Integrate payments and mobile wallets, giving merchants a single dashboard to manage the full customer journey.
Strategic & Market-Context Insights
This funding carries strategic resonance beyond just the startup:
- stc group’s investment vehicle Tali Ventures is aligned with Saudi Arabia’s digital-transformation ambitions under its Vision 2030 framework; the investment signals a push to empower merchant digital tools.
- The investor commentary emphasises they are backing a growth “at the nexus” of two fast-expanding markets: customer success/engagement platforms and CRM. For instance, one estimate cited: global CRM expected to more than double to USD 1.46 billion by 2033.
- For SMEs in Saudi Arabia, the ability to engage digitally, convert insights into action and integrate payments is increasingly critical — and Bonat positions itself squarely in that gap.
Implications & What to Watch
For Bonat:
- This funding gives Bonat the runway to scale rapidly — both in product sophistication (AI, automation) and market reach (new verticals, wallet/payment integration).
- Execution will be key: winning larger merchant contracts, proving ROI on customer loyalty/engagement and entering adjacent verticals effectively.
- The integration of payment/wallet features could blur lines with fintech/embedded-finance, so Bonat must navigate regulatory, partner and competitive dynamics.
For the region & ecosystem:
- It underlines Saudi Arabia’s growing startup and VC ecosystem — particularly technology startups that support merchants, payments, engagement and digital commerce.
- The move suggests that “engagement + data + payments” is a recurring theme in Middle East digital commerce — and startups must be ready to offer end-to-end value, not just one piece of the stack.
- Investors will watch whether regional startups can scale beyond the Saudi market into the broader GCC, leverage cross-border merchants, and adapt to diverse consumer behaviours.
What to watch next:
- How quickly Bonat can deploy its AI-automation features and demonstrate measurable uplift in customer lifetime value (LTV) for its merchant clients.
- The pace of merchant adoption, especially among F&B, retail and services verticals in Saudi and nearby markets.
- Competitive trajectory: which other platforms in the region are similarly scalable, and whether global players begin to eye this segment.
- The regulatory and partnership ecosystem around payments and digital wallets — as Bonat integrates these, partnerships (with banks/fintechs) and regulatory compliance become more important.
Editor’s Note — From the Startups MENA Team
At Startups MENA, we continue to spotlight the founders and investors redefining how technology powers customer engagement and business growth across the region. Bonat’s $6 million Series A, led by Tali Ventures, represents more than just a funding milestone — it marks a shift in how AI is reshaping loyalty, retention, and the digital customer journey in Saudi Arabia and beyond.
By combining advanced analytics, automation, and payment integration, Bonat is building what could become the backbone of modern retail intelligence — empowering merchants to make data-driven decisions that translate directly into growth. This evolution from transactional marketing to predictive engagement signals a new era for MENA’s commerce ecosystem, one rooted in intelligence rather than intuition.
As venture capital deepens its commitment to customer-tech and AI-driven platforms, Bonat’s momentum underscores a broader narrative: the Middle East’s digital economy isn’t just catching up — it’s creating the playbook for how localized innovation can scale globally.
— The Startups MENA Editorial Team
