Dsquares
Dsquares is a Cairo-based B2B loyalty and rewards platform provider serving Fortune 500 enterprises and governments across MENA and Europe with modular points, campaign, gamification, and analytics tools backed by a 25,000+ merchant redemption network.
- Company typePrivate
- Founded2012
- HeadquartersCairo, Egypt
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Dsquares does
Dsquares is a privately held B2B loyalty and rewards solutions provider founded in 2012 in Cairo, Egypt, operating an end-to-end modular loyalty platform that serves Fortune 500 enterprises and large public-sector clients across the Middle East, Africa, and Europe. Its platform is organized into four solution pillars: Retain (Points Engine, Receipt Scanning via OCR, Tap and Go wallet integration, Referral Programs), Engage (C-Cubed Campaign Command Center, Gamification Engine, Dvote Fan Engagement, Seasonal Campaigns), Reward (Rewards Catalogue, Promotion Engine), and Analyze (ROI Analysis, Advanced Analytics, Anomaly Detection). The technology stack is API-first with a published Developer Portal and integrates with payment networks (Visa, Mastercard), CRM systems (Salesforce, Siebel), communication gateways (Twilio, Infobip, WhatsApp, USSD), identity providers (Keycloak, Active Directory), and digital wallets (Apple Wallet, Google Pay). AI capabilities include a Gen AI script builder, NLP-driven segmentation, predictive churn analytics, a recommendation engine, real-time anomaly detection, and OCR-based receipt scanning.
The company monetizes through enterprise licensing of its loyalty platform, professional services (strategic planning, program design, merchant network setup, ongoing program management), and integration/white-label services, with quote-based annual contracts. Its go-to-market is direct enterprise field sales targeting banks, telecom operators, oil & gas companies, FMCG brands, retailers, hospitality chains, sports organizations, and government entities, with named clients including HSBC, Vodafone, Orange, ExxonMobil, PepsiCo, Nestle, Procter & Gamble, Mastercard, Visa, FAB, Riyadh Bank, AlRajhi Bank, CIB, QNB, stc Group, and Credit Agricole Egypt. Supporting the platform is a curated merchant network of 25,000+ stores and brands (Subway, Starbucks, Hilton, Krispy Kreme, Booking.com, Movenpick, Victoria's Secret, Lacoste, Tommy Hilfiger, Timberland, Levi's, Body Shop, Aldo, Debenhams, Inglot, Paul, On The Run) that provides diverse reward redemption options across the MENA region. Dsquares operates from 10 offices in 10 countries (Egypt, Saudi Arabia, UAE, Jordan, Iraq, Kenya, Tanzania, Morocco, Netherlands, Romania), holds ISO 27001 certification and GDPR compliance, and is led by co-founder and CEO Marwan Kenawy with COO Khalid Nazif.
Dsquares firmographics
Firmographics- Name
- Dsquares
- Legal name
- Dsquares
- Website
- https://dsquares.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Dsquares is a Cairo-based B2B loyalty and rewards platform provider serving Fortune 500 enterprises and governments across MENA and Europe with modular points, campaign, gamification, and analytics tools backed by a 25,000+ merchant redemption network.
- Ownership category
- akta.pro rank
Dsquares industry classification
Industry- Product category
- Customer Loyalty & Rewards Software
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Loyalty, Rewards & Retention Platforms (BPAFAFAH)
- akta.pro secondary industries
- Rewards Marketplace & Redemption Platforms (Merchandise, Gift Cards, Experiences) (THALAKAC), Price Comparison, Deals, Cashback & Loyalty Shopping Platforms (BPAMAGAH)
Keywords
Where Dsquares is headquartered
LocationHeadquarters
- HQ city
- Cairo
- HQ country
- Egypt
- HQ region
- Africa
Offices10 records
Markets served
Dsquares business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Enterprise Loyalty Platform Licensing: B2B loyalty solutions provided to Fortune 500 companies and multinationals, typically involving platform licensing, implementation, and ongoing management services for end-to-end loyalty programs.
- Professional Services: Strategic planning, program consultation, merchant network setup, and ongoing program management and operations services.
- Technology Platform & Integration Services: Custom integration services, API-first platform connections, developer portal access, and white-label solutions for enterprise clients.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise Custom |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels10 records
Dsquares product offering
Product offeringCore offering
Dsquares provides an end-to-end B2B loyalty and rewards platform that enables large enterprises to design, launch, and operate customer loyalty programs. The platform spans four solution pillars — Retain (points accumulation/redemption and wallet integration), Engage (campaign management, gamification, fan engagement), Reward (rewards catalogue, promotion engine), and Analyze (ROI analysis, advanced analytics, anomaly detection) — backed by a 25,000+ merchant network, API-first architecture, and ISO 27001/GDPR-compliant infrastructure for industries including banking, telecom, oil & gas, retail, FMCG, hospitality, sports, and government.
Product overview
Dsquares offers an end-to-end B2B loyalty and rewards platform organized into four integrated solution pillars: Retain (Points Engine, Receipt Scanning, Tap and Go, Referral Programs), Engage (C-Cubed Campaign Command Center, Gamification Engine, Dvote, Seasonal Campaigns), Reward (Rewards Catalogue, Promotion Engine), and Analyze (ROI Analysis, Advanced Analytics, Anomaly Detection). The platform is built on a flexible technology infrastructure with API-first architecture, Developer Portal, and multi-channel customer interface capabilities. Supporting services include Strategic Planning, Merchant Network (25,000+ merchants), and comprehensive analytics. The portfolio supports diverse industries including Banking, Telecom, Government, Oil & Gas, Retail, Hospitality, Sports, and FMCG.
Differentiator
Problem solved
Functional benefit
Brands
- D'light Rewards Catalogue: Loyalty product launched in Saudi Arabia focusing on emotionally driven, personalized, and real-time customer engagement
- D'vote Fan Engagement
- Loyalize
Products and services
- Points Engine Flexible and scalable points accumulation and redemption engine that enables enterprise customers to earn and redeem loyalty points through fixed rates, tier-based rewards, product-specific points, event-based accumulation, and bonus points with open or closed loop configurations. Used by large enterprises across banking, telecom, FMCG, and retail.
- C-Cubed Campaign Command Center Marketing campaign management platform enabling targeted customer segmentation (RFM, AI-driven), campaign design, personalized multi-channel messaging across email, SMS, push notifications, and in-app channels, plus campaign performance measurement with AI-powered tools and Gen AI script builder. Targeted at enterprise marketing and loyalty teams.
- Gamification Engine Interactive gamification platform transforming customer interactions into fun, competition, and instant gratification through dynamic challenges, AR/VR games, skill-based competitions, micro-rewards, badges, stamps, and leaderboards. Used by enterprises to maximize engagement and minimize churn.
- Dvote Fan Engagement Fan engagement platform enabling real-time audience interaction, instant rewards, live gamification, tiered rewards, and data analytics for sports and entertainment brands to build thriving fan communities. Targeted at sports organizations, entertainment brands, and fan-driven enterprises.
- Rewards Catalogue Comprehensive rewards marketplace offering diverse redemption options including vouchers, gift cards, discounts, charitable donations, product rewards, utility rewards (mobile top-up, bill payments), and experiential rewards such as travel bookings and experiences. Backed by a 25,000+ merchant network including Subway, Starbucks, Hilton, and Krispy Kreme.
- Promotion Engine Promotional campaign management tool for creating and managing attractive promotions including value offers, BOGO deals, discounts, and cross-selling opportunities, with budget capping mechanisms to control spend. Used by enterprise marketing teams to drive targeted offers.
- Developer Portal API-first integration platform enabling third-party developers and enterprise IT teams to connect their technology stacks with flexible, robust APIs, JavaScript SDK, and comprehensive documentation with dedicated technical support.
- Merchant Network Service Strategic merchant partnership network connecting brands with 25,000+ stores across Subway, Starbucks, Krispy Kreme, Hilton, Booking.com, Victoria's Secret, Lacoste, Tommy Hilfiger, Timberland, Levi's, Body Shop, Aldo, and many more, providing diverse reward options, negotiation support, legal and financial expertise, training, quality control, and financial reconciliation services.
- Strategic Planning & Consulting Expert consulting services including program strategy, commercial strategic planning, market and audience analysis, needs gap analysis, program design, program optimization, program revamp, technical consulting, budget planning, and go-to-market strategy, with expert advisory grounded in insights and best practices. Targeted at enterprise loyalty program leaders.
Quantifiable outcome
- Customer retention increase through loyalty programs
- +2 more outcomes
Companies that use Dsquares
Customer profileNamed customers24 records
Segments9 records
Ideal customer profiles5 records
Dsquares technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration29 records
AI capability10 records
Feature9 records
Dsquares partnerships and signals
Strategic signalPartnerships
22 partnerships are on record, tiered core and minor.
- stc GroupcoreDsquares partnered with stc Group through a Memorandum of Understanding to enhance rewards experience for Saudi consumers by integrating digital loyalty solutions and providing personalized e-vouchers. The collaboration aims to shift loyalty programs from traditional points-based schemes to behavior-driven ecosystems.
- stc GroupcoreStrategic collaboration with stc Group supporting Dsquares' expansion in Saudi Arabia and focus on enhancing loyalty strategies for various sectors through D'light Rewards Catalogue and D'vote Fan Engagement products.
- MastercardcorePayment solutions partnership supporting loyalty point integrations and digital payment capabilities.
- VisacorePayment solutions partnership for loyalty integrations and payment infrastructure.
- SubwaycoreMerchant partner in the 25,000+ store merchant network providing reward redemption options for loyalty program members.
- StarbuckscoreMerchant partner in the merchant network offering coffee and food rewards for loyalty program redemption.
- Krispy KrememinorMerchant partner providing food/dessert rewards for loyalty program redemption.
- HiltoncoreHospitality merchant partner providing hotel stay rewards and experiential rewards for loyalty programs.
- Booking.comminorTravel partner providing accommodation booking rewards for loyalty redemption.
- OSNminorEntertainment merchant partner for streaming/content rewards.
- MovenpickminorHospitality merchant partner for hotel and food experiences.
- Victoria's SecretminorRetail merchant partner for fashion and beauty rewards.
- LacosteminorFashion retail partner for apparel rewards.
- Tommy HilfigerminorFashion brand partner for premium apparel rewards.
- TimberlandminorOutdoor brand merchant for lifestyle rewards.
- Levi'sminorDenim brand merchant partner for apparel rewards.
- Body ShopminorBeauty and skincare merchant partner for wellness rewards.
- AldominorFootwear merchant partner for accessory rewards.
- DebenhamsminorDepartment store merchant partner for diverse retail rewards.
- InglotminorCosmetics merchant partner for beauty product rewards.
- PaulminorBakery and restaurant merchant partner for food rewards.
- On The RunminorConvenience store merchant partner for everyday rewards.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
Dsquares competitors and assessment
Company assessmentEmerging players
- Zinrelo: Zinrelo is a SaaS loyalty rewards platform targeting mid-market e-commerce and retail brands. It offers points, tiers, and rewards catalogue functionality comparable to Dsquares' Retain and Reward pillars but skews smaller and more e-commerce-focused.
- SailPlay: SailPlay is an omnichannel loyalty platform with strong presence in Russia/CIS and emerging markets, offering points, gamification, and rewards catalogues. It is comparable to Dsquares in emerging-market enterprise loyalty, though with a different geographic footprint.
- Yotpo: Yotpo is a retention marketing platform combining reviews, SMS marketing, and loyalty for DTC and retail brands. It overlaps with Dsquares in loyalty, gamification, and SMS-driven engagement but skews toward mid-market e-commerce rather than Fortune 500 enterprise.
Broad incumbents
- Salesforce Loyalty Management: Salesforce Loyalty Management is part of the Salesforce Customer 360 suite, offering enterprise loyalty as a module on top of CRM, data cloud, and marketing cloud. It is a broad incumbent competing for the same Fortune 500 wallet Dsquares targets, with bundled-suite advantages.
- Aimia: Aimia is a loyalty and analytics company with heritage in coalition loyalty programs (Aeroplan). It competes with Dsquares in loyalty strategy and program management for large enterprises and coalition programs.
- Oracle CrowdTwist (Oracle Loyalty): Oracle CrowdTwist is Oracle's enterprise loyalty and engagement solution, integrated with Oracle CX and data infrastructure. It overlaps directly with Dsquares' enterprise loyalty offering and competes in banking, retail, and hospitality RFPs globally.
- Epsilon (Publicis): Epsilon, part of Publicis Groupe, offers data-driven loyalty and customer engagement solutions to enterprise clients. Its CORE ID and loyalty capabilities overlap with Dsquares' data and personalization stack, especially for global brand clients.
Direct peers
- Antavo: Antavo is a Hungary-based B2B loyalty cloud platform serving global enterprise clients with API-first loyalty technology. It is the closest direct competitor to Dsquares' Points Engine, C-Cubed-style campaign management, and rewards catalogue offering.
- Open Loyalty: Open Loyalty is a headless, API-first loyalty platform for enterprise brands, offering similar modular points, rewards, and gamification capabilities. It targets a comparable mid-to-large enterprise buyer with developer-led integration.
- Comarch: Comarch is a Polish enterprise software provider with a dedicated Loyalty Management platform used by telecom, banking, and retail clients globally. It competes head-on with Dsquares across telecom and banking verticals, especially in EMEA.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Dsquares social profiles
Digital presenceDsquares compliance and trust
Trust signalCompliance2 records
Dsquares financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dsquares leadership team
Management profileNumber of profiles
Profiles2 records
Dsquares funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dsquares M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Dsquares
What does Dsquares do?
Dsquares provides an end-to-end B2B loyalty and rewards platform that enables large enterprises to design, launch, and operate customer loyalty programs. The platform spans four solution pillars — Retain (points accumulation/redemption and wallet integration), Engage (campaign management, gamification, fan engagement), Reward (rewards catalogue, promotion engine), and Analyze (ROI analysis, advanced analytics, anomaly detection) — backed by a 25,000+ merchant network, API-first architecture, and ISO 27001/GDPR-compliant infrastructure for industries including banking, telecom, oil & gas, retail, FMCG, hospitality, sports, and government.
Is Dsquares a public or private company?
Dsquares is a private company. It is classified as venture growth investor backed and is currently operating.
When was Dsquares founded?
Dsquares was founded in 2012. It employs 101 to 250 people.
Where is Dsquares based?
Dsquares is headquartered in Cairo, Egypt, in the Africa region.
How does Dsquares make money?
Three revenue lines are on record. Enterprise Loyalty Platform Licensing is the primary driver. The others are professional Services and technology Platform & Integration Services.
Who are Dsquares's main competitors?
Emerging players on record are Zinrelo, SailPlay and Yotpo. Broad incumbents are Salesforce Loyalty Management, Aimia, Oracle CrowdTwist (Oracle Loyalty) and Epsilon (Publicis). Direct peers are Antavo, Open Loyalty and Comarch.
Does Dsquares have an API?
Yes. API-first platform integrations enabling seamless connection to existing technology stacks with a flexible, robust, and predictable API. The Developer Portal enables third-party developers to integrate the loyalty platform interface and features into their own applications. Developer documentation is at dsquares.com/technology/#developer.
What industry is Dsquares in?
Dsquares's product category is Customer Loyalty & Rewards Software. Its primary akta.pro industry code is BPAFAFAH, Loyalty, Rewards & Retention Platforms, with a secondary code of THALAKAC, Rewards Marketplace & Redemption Platforms (Merchandise, Gift Cards, Experiences). Its NAICS code is 5182 and its SIC code is 7370.