Blink has successfully concluded a seed funding round, securing a substantial $2.1 million. The funding round saw participation from prominent investors, including 500 Global, Global Founders Capital, and existing backers such as Orbit Startup/SOSV.
Since its inception in 2020, Blink has emerged as a game-changer for restaurants, aiding them in establishing and expanding their direct online ordering channels. The platform has been instrumental in assisting over 1200 restaurants across the MENAP region, facilitating more than 8 million direct orders.
The recent injection of funds will fuel Blink’s strategic expansion, with a particular focus on Saudi Arabia – the fastest-growing market in the Gulf Cooperation Council (GCC) region.
Syed Sair Ali, Co-founder and CEO of Blink, highlighted the challenges faced by restaurants in an era dominated by food delivery aggregators. He stated, “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 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%.”
Amal Dokhan, General Partner at 500 Global, commended Blink’s commitment to the Saudi market, noting the establishment of their headquarters in Riyadh. She expressed excitement about the platform’s proven business model and its potential for continued growth in Saudi Arabia.
Oliver, representing Global Founders Capital (GFC), emphasised their belief in Blink’s mission to empower brands to secure more direct orders. He drew parallels with successful models in other markets and underscored the tremendous potential perceived in Blink’s model and the team’s execution capabilities.
William Bao Bean, Managing General Partner at Orbit Startups, affirmed their support for Blink based on the shared challenges faced by countries within emerging and frontier markets. He highlighted the team’s ability to scale cross-border and create a regional leader in digitising micro and small-to-medium enterprises (SMEs), bringing them online and directly to consumers.
Blink’s latest funding round positions the company for an exciting phase of growth, further solidifying its presence in the dynamic and competitive restaurant technology landscape.
