Saudi Arabia-based restaurant software services provider Blink has secured $2.1 million in a seed funding round, aiming to fast-track its growth in the restaurant technology segment.
Participating in the funding round were notable companies such as 500 Global and Global Founders Capital, along with existing investors like Orbit Startup/SOSV.
Orbit Startup’s managing general partner William Bao Bean stated, “There are many common challenges shared by different countries within emerging and frontier markets.
“We backed Sair and the team because they have what it takes to scale cross-border and create a regional leader by digitising traditional micro and SMEs, taking them online and direct to consumers.”
Founded in 2020, Blink assists restaurants in the Middle East, North Africa, and Pakistan (MENAP) by facilitating order processing through its dedicated online ordering channels.
Blink’s system enables restaurants to boost profit margins and reduce reliance on delivery aggregators.
The software-as-a-service company has aided over 1200 restaurants throughout the MENAP region, handling in excess of eight million direct orders.
In 2023, the technology company handled 4.5 million orders for its partner restaurants, achieving an annual recurring revenue surpassing $0.5 million.
Blink co-founder and CEO Syed Sair Ali stated, “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%.”