The journey of Dhruv Verma from observing sports tech integration in the UK to founding Thriwe began with his personal experience. Founded by Dhruv Verma, Thriwe’s journey began with a keen observation of the potential for tech integration in the sports industry in the UK. Verma’s vision swiftly evolved, leading to the establishment of GolfLan, a pioneering venture aimed at revolutionising the golfing experience through technology.
Verma reflects on the genesis of Thriwe, stating, “The initial insights emerged from recognizing a notable gap in the golfing industry, where technology could seamlessly bridge the connection between golfers and courses.”
From golf to loyalty
However, the metamorphosis of GolfLan into Thriwe marks a broader vision that extends beyond golf. Thriwe has transitioned into a comprehensive B2B consumer benefits marketplace, catering to various industries with a focus on reshaping loyalty solutions.
Verma articulated this strategic shift, in a conversation with edge/, he said, “The initial success in catering to golf enthusiasts highlighted the burgeoning demand for premium experiences in diverse sectors.”
Thriwe has already forged partnerships with notable entities such as First Abu Dhabi Bank (FAB), Emirates National Bank of Dubai (ENBD), MasterCard, VISA, Mashreq, Rak Bank, and Commercial Bank of Dubai (CBD), signifying its traction in the market.
Surging ahead
Central to Thriwe’s operational framework lies its sophisticated loyalty platform, empowered by the innovative “Surge” engine. Verma elaborates on Surge, describing it as “an advanced loyalty earn and burn tech engine” designed for seamless points accrual and redemption across various categories including sports, lifestyle, and entertainment.
What sets Surge apart from its competitors is its extensive range of redemption mechanisms. Verma emphasised, “Simply put, Surge is an advanced loyalty earn and burn tech engine that offers benefits and combinations to cater to any kind of audience.”
The technology allows businesses to set up rules and parameters for earning and redeeming points. These rules can be based on transactions, behaviour, milestones, and other factors. The engine then tracks customer activity and automatically awards points based on the rules set by the business.
Customers can then redeem their points for rewards, which can range from discounts and gift vouchers to cash and other benefits. Surge also provides businesses with analytics and reporting tools to help them track the success of their loyalty programs and make data-driven decisions.
“Surge can be compared with a Swiss Army Knife, with its wide range of tools and capabilities that can be customized to meet the needs of any business. With its focus on customer satisfaction and its ability to adapt to the changing needs of the market, Surge is a unique and innovative solution that is redefining the loyalty rewards landscape,” said Verma.
Powering with AI
He believes, AI to have a significant impact on Surge. AI and Machine Learning technologies can be used to personalize the user experience, by analysing consumer behaviour and providing tailored rewards and benefits. This can help businesses to build customer loyalty and incentivize their customers
“AI can also be used to optimise the earning and redemption rules, by analysing data and making data-driven decisions. This can help businesses to improve the effectiveness of their loyalty programs and maximise their return on investment. In summary, AI can help Surge to provide a more personalised and effective loyalty program,” said Verma.
The recent acquisition of the prepaid card and fintech platform Ucare further augmented Thriwe’s repertoire, integrating fintech solutions such as prepaid cards seamlessly into the loyalty ecosystem.
Bringing in the fintech benefits
Thriwe’s acquisition of UCare was a strategic move to expand its offerings and provide additional value to its customers. By integrating UCare’s prepaid card and health benefits stack into its platform, Thriwe can now offer organisations with large distributor, agent, and middlemen networks a convenient and beneficial way to pay commissions and build loyalty among their network
With the UCare prepaid card, these organisations can not only pay commissions but also provide their network with additional benefits from Thriwe when transacting with the card.
“By offering a wide range of benefits and incentives to cardholders, Thriwe can attract new customers and strengthen its position in the market. Overall, the acquisition of UCare and its integration into Thriwe’s platform has provided the company with new opportunities for growth and expansion,” stated Verma.
The evolution of its product offerings has been focussed on innovation, expanding beyond the confines of golf to encompass a diverse array of benefits ranging from dining privileges to travel perks and entertainment options.
Setting itself apart
Currently, according to a Research and Markets report, the loyalty market in the UAE will grow at a compounded annual growth rate (CAGR) of 11.7 per cent from 2023 to 2027. The market in the region will increase from $1.27 billion to $2.21 billion by 2027.
The other players in the field include – Buff, a decentralised gaming loyalty platform, FiveStars, Marsello, TapMango, and several others. According to reports, the loyalty market in the UAE is expected to record a compounded annual growth rate (CAGR) off 11.7 per cent between 2023 and 2027. The loyalty market in the country will increase from $1.2 billion to $2.2 billion by 2027.
One of the key features that sets Surge apart from others are the ‘earn and burn tech products in the market is its extensive range of redemption mechanisms. Customers can redeem their points for gift vouchers, exchange them for cash, buy stocks, get discounts, unlock offers, and many more. This flexibility and versatility make Surge a powerful tool for businesses looking to build customer loyalty and incentivize their customers.
Looking ahead, Thriwe envisions a concerted effort to deepen its foothold in mature markets while venturing into uncharted territories. With ambitious plans to cultivate a customer base exceeding 40-50 million across 8-10 geographies, Thriwe remains steadfast in its mission to drive customer-centric innovation and redefine the contours of loyalty experiences globally.
