KSA-based F&B platform n.go raises $1.8M in First Funds
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Saudi-based F&B “on the go” platform n.go has successfully raised $1.8M (7M SAR) in its debut funding round led by key and strategic angel investors in the region.
Launched earlier this year, n.go is KSA’s new favorite platform that can potentially add a drive-through feature for virtually any F&B operator. Through their simplified app, n.go enables users to choose products and pay through the application, and then receive the order from the chosen store upon arrival without the need to get out of the car.
The Food & Beverage industry remains the most funded sector in MENA as most recently recorded in our Q3 2021 EVM Food & Beverage Venture Investment report. With Egypt at the forefront with the most number of deals closed in F&B by Q3 2021 and the UAE leading on capital deployed in the sector driven by Kitopi’s Megadeal, funding in the F&B sector across MENA has observed a 298% YoY growth by the third quarter of the year. Most remarkably, third-party aggregators like n.go and Foodics in KSA, elmnenus in Egypt, and POSRocket in Jordan have specified opportunities across the value chain to add impact to business and users through seamless technology.
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The platform also allows customers to shorten waiting times and avoid long periods of standing to buy and pay. In addition, n.go helps its partners from restaurants and cafes to increase their revenues, receive more customers and learn their client’s preferences to improve services and raise customer loyalty.
n.go operates in Riyadh, Jeddah, and Sharqiya in the Kingdom of Saudi Arabia, and has been able to include a number of reputable stores in the food and beverage sector in a short period of time to work on the platform. Commenting on the investment, the founders of the application said: “We aim at improving the user experience and provide all means of convenience to n.go users, as well as help merchants in the food and beverage sector to keep pace with the digital transformation witnessed in the Kingdom, and to open new digital channels. We aspire in the coming period to add many more services in the application and access to other markets in the Middle East, the first of which is the United Arab Emirates
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