Supy, UAE-based B2B food marketplace, raised $8m in a Seed round led by BECO Capital with participation from Valia Ventures and COTU Ventures, Global Ventures and AMK Investment Office.
Supy was co-founded in February 2021 by Dani El-Zein and Ibrahim Bou Ncoula, and works on digitizing the communication process between restaurants and suppliers.
Their software is available on web and mobile and helps restaurants improve profit margins by providing them with insights on their purchasing trends at both an ingredient level and a supplier level.
The startup aims to use the capital to invest in further bolstering its tech, strengthening its product offering, scaling out its KSA presence, and launching its settlement and payment solution to help suppliers reconcile invoices while allowing restaurants to better manage their payables and cash flow.
“We are on a mission to become a global leader in this space, and our growth since our pre-seed funding round is a testament that we are on track with the right set of partners. KSA is the perfect location for our first international expansion outside the UAE and into the global market. Supy was created to solve a crucial problem for one of the most dynamic industries, and we can’t wait to expand our software offerings to our customer base,” Dani El-Zein, Co-Founder and CEO of Supy, stated.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.