Koinz, an Egypt-based food and beverage startup, has raised US$4.8M in seed funding from 4DX Ventures and strategic angel investors in Egypt, Turkey, and Saudi Arabia, led by Justin Mateen.
With the new funds, Koinz will be able to recruit more people and expand across the Middle East.
Hussein Momtaz, Ahmed Said, and Abdullah Al Khalidi formed the company in 2018. The Koinz platform enables restaurants in the Middle East to rapidly increase revenue.
Koinz is a one-of-a-kind tech platform that goes beyond an aggregator and has rapidly become a win-win situation for both customers and restaurant owners in the Middle East, by engaging their customers in meaningful, rewarding, and data-driven experiences.
The platform also helps restaurants to gain access to this new customer base and take action on it, as well as bridge the gap between offline and online customer operation.
Koinz aims to close the gap, allowing restaurants to increase sales more rapidly. Its goals are to collect and monitor real-time data on customer behavior, increase customer loyalty, and implement a digital incentive system.
According to the startup, nearly 4 million customers in the Middle East have gained points on Koinz by ordering from their favorite restaurants.
Restaurants can see all of their interactions with customers at both offline and online touch-points for the first time.
Restaurant owners in Egypt, Saudi Arabia, and the United Arab Emirates can use the website right now.