Save now, buy later start-up Compound to launch in MENA in Q4
Compound, a new “save now, buy later” start-up is preparing to launch in the Middle East and North Africa (MENA) region to help consumers earn rewards as they save.
Save now, buy later start-up Compound to launch in MENA in Q4
Founded and developed by Shashank Narayanan, Compound is touted as “a new way of getting paid to save”, according to its website, enabling users to earn rewards for saving with their favourite brands.
For these brands, the service aims to lower the cost of customer acquisition by securing consumer commitments in advance of the purchase, while also facilitating revenue growth, deepened engagement and boosted brand loyalty.
Speaking to FinTech Futures, Narayanan says that over the last few months, the Compound team has “validated the need for a new savings-led shopping experience with both customers and merchants alike”, adding that conversations are currently underway to “launch with several merchants across various industries”, including the travel, healthcare, insurance and real estate sectors.
He confirms that Compound is scheduled to launch in “early Q4” this year, and is therefore “currently accepting customers on its waitlist”, which is available to access via its website.
The start-up’s development was incubated by HP Spring Studios, a Bahrain-based venture studio launched in partnership with Salica Investments (formerly Hambro Perks) and Al Waha Fund of Funds.
