Blink has concluded a $2.1 million Seed funding round, drawing support from notable investors such as 500 Global and Global Founders Capital, along with existing backers like Orbit Startup/SOSV, according to a company statement.
Revolutionizing the restaurant landscape, Blink empowers eateries to bolster profit margins and diminish reliance on delivery aggregators by establishing and expanding their direct online ordering channels.
Last year, Blink processed an impressive 4.5 million orders for partner restaurants, achieving an Annual Recurring Revenue surpassing $0.5 million.
Since its inception in 2020, Blink has facilitated over 1200 restaurants across the MENAP region, overseeing more than 8 million direct orders.
The distinctive strength of Blink lies not only in its innovative solutions but also in the seamless experience it provides to restaurants.
Going live with Blink’s online ordering websites and apps is swift and straightforward, offering a hassle-free solution for businesses seeking to establish and broaden their direct online presence.
The funds will propel the company’s growth in Saudi Arabia, the GCC region’s fastest-growing market, where Blink has already left a remarkable footprint, led by the CEO’s presence in Riyadh.
“Restaurants today grapple with an increased dependence on food delivery aggregators. Post-Covid, with the surge in delivery habits, over 90% of orders are channeled through aggregators, resulting in restaurants losing an average of 20% margin. Additionally, they face challenges in accessing valuable customer data, hindering any potential for future marketing relationships.
Our impactful work has enabled restaurant brands to recapture up to 40% of their aggregator orders through their direct ordering channel, boosting profitability by 30%” – Syed Sair Ali, Co-founder & CEO, Blink
“Blink has shown a strong commitment to the Saudi market by establishing their headquarters in Riyadh. Their business model, proven in other markets, excites us as we anticipate their continued growth in Saudi Arabia.” – Amal Dokhan, General Partner, 500 Global.
“As early investors in food delivery marketplaces and recently in models similar to Blink in other geographies, we believe in Blink’s mission to empower brands to have more direct orders. Similar models have worked globally, and we see tremendous potential in the model and the team’s ability to execute.” – Oliver, GFC
“There are many common challenges shared by different countries within emerging and frontier markets,” said William Bao Bean, Managing General Partner at Orbit Startups. “We backed Sair and the team because they have what it takes to scale cross border and create a regional leader digitizing traditional micro and SMEs, taking them online and direct to the consumer.”
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