Blink, a restaurant SaaS startup from Saudi Arabia, has successfully raised a substantial seed round of $2.1M. This funding round was led by 500 Global and Global Founders Capital, with valuable participation from Orbit Startups, an existing investor.
- Future Plans: The primary allocation of this considerable funding will be to bolster Blink’s expansion within Saudi Arabia and also across the Gulf Cooperation Council (GCC) region.
- Background: Established in 2020, Blink has carved a unique niche in the restaurant industry. It aids restaurants in expanding their direct online ordering channels through its branded platforms and mobile applications.
- Present Problem: Syed Sair Ali, Blink’s CEO, along with co-founder Syed Hyder Abbas, pointed out a rising concern in the industry: The over-reliance of restaurants on aggregators, which often take significant cuts from each order. This problem became more evident as the pandemic drew to a close. However, despite the resonance of these issues with many restaurants, Blink often found it challenging to persuade some establishments to explore alternative solutions.
- Addressing the Problems: Blink addresses this by ensuring their services are both accessible and packed with features. Their online restaurant ordering solutions range from delivery fleet management and customer engagement to analytics and intelligence services, according to Blink’s official website.
Blink’s partners have impressively processed 4.5 million orders and logged a staggering $500,000 in annual recurring revenue (ARR) within the past year alone.
