← Embedded Finance Index 2026

Rewardz Pte Ltd

Can a Singapore-based rewards SaaS become the default embedded incentives layer for enterprises across APAC and the Middle East?

Founded2012
HQSingapore
FoundersSudhanshu Tewari, Jaya Maru
Total raised$4.1M
IndustryHorizontal SaaS / HR & Rewards
The story

Rewardz was founded in Singapore in 2012 as an employee rewards and recognition SaaS platform. Over 13+ years it built a multi-product suite (CERRA Applause, Flex, Incentives, Wellness; SPUR marketplace; VYBE for SMEs) serving 300+ clients and 3M+ users across 30+ countries in APAC and the Middle East. It became a subsidiary of Japan's Benefit One, cementing a distribution and capital relationship with a strategic corporate parent. The current strategic push is AI-augmented recognition (conversational assistant, receipt validation) and expanding the SPUR gift-card / e-voucher marketplace as an API/PWA-ready embedded rewards layer for insurers, fintechs and enterprises.

Last 12 months
2025-01
2025-01
Product timeline
2012
Rewardz Pte Ltd founded in Singapore as a digital rewards, recognition, and loyalty platform· founding
2012
Launched CERRA employee reward and recognition platform· product-launch
2020
Expanded to UAE / Middle East and Hong Kong markets· expansion
2024
Became a subsidiary of Benefit One (Japanese benefits and rewards conglomerate)· acquisition
2025
Launched AI-powered features: conversational assistant, content generation & audit, smart receipt validation· product-launch
The stack
0 layers disclosed in Rewardz Pte Ltd’s embedded-finance stack
Accounting gap: none