5 November 2024, Tue |
12:02 PM
GrubTech and Paymob, two fast-growing startups, have announced a partnership that will allow thousands of Egyptian restaurants, cafes, and cloud kitchens to modernize their operations and manage their payment systems more efficiently.
The partnership, which was recently signed at Cafex, a B2B event for the restaurant and café industry, combines the strength of GrubTech’s cutting-edge, plug-and-play operating system with Paymob’s expertise in the digital payment space. It is expected to contribute to the digitization of Egypt’s F&B ecosystem by making it simple for operators to get up and running with an all-in-one solution.
The GrubTech and Paymob collaboration features two highly successful homegrown startups that share the same DNA and have aided in the Middle East’s digital transformation. Only two years after its launch, GrubTech has delivered significant operational benefits to restaurant and cloud kitchen operators in 17 key markets around the world. Its expansion into Egypt and collaboration with Paymob will usher in a new era of digital transformation in the industry.
“We’ve seen the chaos in the kitchen, and we fixed it using our all-in-one platform. Restaurants who used to wrestle with fragmented solutions and had to grapple with the burden of managing multiple vendors and disjointed data, now experience a massive shift in operational efficiencies and increase in sales. And that will only get better as we combine it with Paymob’s expertise in digital payment solutions,” said Mohamed Al Fayed, GrubTech’s Co-founder & CEO.
An integrated payment solution will benefit not only restaurateurs, café owners, and cloud kitchen operators, but also consumers. According to a recent Visa survey, 85 percent of Egyptians are less likely to pay for deliveries with cash. Another study, this time conducted by Mastercard, found that 3 out of 4 Egyptian consumers prefer digital methods nowadays because they save money.
Paymob has been enabling merchants in a variety of industries to grow their businesses through the use of various digital payment methods such as online payments, mobile wallets, and installments, among others. The startup, which was founded in 2015, was among the first to digitize Egypt’s payment ecosystem.
“We’re very excited to be partnering with Grubtech’s expertise, redefining the traditional payments reconciliation norms for the F&B sector by offering a bundled solution that seamlessly manage restaurants operations and payments from a single platform.” said Islam Shawky, Paymob’s Co-founder & CEO.
Cafes, restaurants, and cloud kitchens in Egypt that use GrubTech’s point of sale and restaurant management system will be automatically signed up with Paymob, the country’s licensed payment provider, allowing consumer card payments made at the GrubTech point of sale to be processed by Paymob.
GrubTech has raised over $18 million in funding from reputable venture capitalists, demonstrating investor confidence and a growing market position. The collaboration is strategically positioned to cover the entire country with a combined salesforce, resulting in widespread adoption.
