Saudi Saas startup Blink raises $2.1M in seed round
The funding will help the company accelerate growth in Saudi Arabia, the fastest-growing market in the GCC region.
Saudi Arabian SaaS startup has secured a $2.1 million seed funding round, with participation from 500 Global, Global Founders Capital, and existing investors like Orbit Startup/SOSV, according to statement shared on Wamda.
The funding round will help the company accelerate growth in Saudi Arabia, the fastest-growing market in the GCC region.
“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,” said William Bao Bean, Managing General Partner at Orbit Startups.
Blink, founded in 2020, enables restaurants to increase profit margins and reduce their reliance on delivery aggregators by expanding their online ordering channels. With over 1,200 restaurants in the MENA region processing over eight million direct orders.
Its growth and marketing engine enables brands to acquire and retain customers through personalised campaigns. The company's innovative solutions and seamless experience make it a valuable tool for businesses looking to establish and expand their direct online presence. Blink operates in the Middle East, North Africa, and Pakistan.
Blink CEO Syed Sair Ali warns that restaurants are increasingly dependent on food delivery aggregators, with over 90% of orders coming through aggregators post-Covid. This leads to a 20% margin loss for restaurants and hinders their ability to access valuable customer data, which could impact future marketing relationships.
"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%," he further added.
The company has processed 4.5 million orders for its partner restaurants in the past year, exceeding $0.5 million in annual recurring revenue (ARR), in the last 12 months.
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Edited by Affirunisa Kankudti
