Saudi Arabia-based SaaS startup, Blink announced the successful closure of its $2.1 million Seed funding round. 500 Global and Global Founders Capital, alongside existing investors, including Orbit Startup/SOSV participated in the round.
Blink enables restaurants to achieve higher profit margins and reduce their dependence on delivery aggregators by launching and growing their direct online ordering channels. Over the last 12 months, the company processed 4.5 million orders for its partner restaurants, surpassing $0.5 million in annual recurring revenue.
Founded in 2020, Blink has helped over 1200 restaurants across the MENAP region process more than 8 million direct orders. Blink’s edge remains its powerful growth and marketing engine, enabling brands to acquire and retain customers through machine-learning-driven personalised campaigns. What sets Blink apart is its innovative solutions and the seamless experience it offers restaurants. Going live with Blink’s online ordering websites and apps is fast and easy, providing a hassle-free solution for businesses looking to establish and expand their direct online presence.
The current funding round will enable the company to accelerate its growth in Saudi Arabia, the fastest-growing market in the GCC region, where they have already established an impressive footprint, led by the CEO’s presence in Riyadh.
“Restaurants today are struggling with dependence on food delivery aggregators more than ever. Post-Covid, with the sharp increase in the habit of delivery, more than 90% of orders are coming through aggregators, where restaurants lose on average a 20% margin. Not to mention their inability to access valuable customer data, prohibiting them from any future marketing relationship.
“Our meaningful work has allowed restaurant brands to win back up to 40% of their aggregator orders through their direct ordering channel, increasing their profitability by 30%,” said Syed Sair Ali, Co-founder and CEO, Blink.
