Mithu aggregates multiple loyalty programmes into one gamified app aimed at increasing customer engagement and retention for restaurants and cafes, with a focus on SMEs in the food and beverage sector. The company says it has signed agreements with approximately 200 restaurants in Riyadh. Mithu plans to develop a tokenised version of its app and is leveraging Web3 and gamification to do so. The founding team brings deep sector experience: CEO Mohsin Qureshi has over 15 years in foodtech and roles at Foodics, Cheetay, and Delivery Hero, while CTO Asif Ali has held leadership roles at Careem, Swvl, and foodpanda and is pursuing a Ph.D. in AI. The company highlights large market opportunity in Saudi Arabia—where only 2.5% of restaurants offer loyalty programmes—and broader industry pain points such as roughly $100 billion in expiring global loyalty points and high programme churn. The $500,000 pre-seed backing from a Web3 venture builder is intended to accelerate time to market and product development.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Aug 2024