Maples and Calder, the Maples Group's law firm, is pleased to have advised Merit Incentives Holding Ltd ("Merit") on its Series B equity funding round, securing US$25,000,000. This significant funding round will enable Merit to continue its growth and enhance its offerings in the gift cards, loyalty programmes, and rewards schemes sector for businesses across the Gulf Cooperation Council ("GCC") region.
Founded by Julie Barbier-Leblan, Merit has been a pioneer in providing innovative solutions for businesses looking to implement effective incentive programmes. Since its formation in 2016, Merit Incentives has seen substantial growth and has become a key global player.
A team of corporate lawyers based in the firm's Dubai practice advised Merit on the Merit holding legal aspects of the transaction and was led by Of Counsel, Oliver Simpson, with assistance from Associate, Molly Burke.
Commenting on the transaction, Oliver said, "We are delighted to have supported Merit on this important milestone. The successful completion of the Series B funding round is a testament to the company's strong market position and growth potential. We look forward to continuing our relationship with Merit and supporting their future endeavors".
Simmons & Simmons acted as English counsel to Merit.