How has RedoQ evolved since its founding, and what have been some of the key milestones in the company’s journey?
RedoQ started in 2010 when we identified automation potential in the Food Beverage industry while pursuing my graduation in the UK. The internet penetration in the UK presented a massive opportunity for businesses to scale and automate tasks to save costs while keeping everything simple. As a result, a platform called FoodFinder was conceived, which allowed food outlets to connect with customers online. This was the time when Google Maps had just launched, while Uber/Deliveroo were still in ideation. From the installation of the first prototype in 2010 to revenue of GBP 48 million in 2023, our bootstrapped company has grown by leaps and bounds. The original platform FoodFinder shape-shifted to DineOrder and Kuick to cater to different customer needs in 2017 under the umbrella of RedoQ, a name that embodies rethinking and creative problem-solving using a first-principles approach.
What unique value do RedoQ’s flagship products, DineOrder and Kuick, offer to customers in terms of business efficiency and user experience?
DineOrder and Kuick are food portals designed for the B2C market, allowing food outlets to connect directly with retail customers. In addition to these portals, RedoQ also provides comprehensive POS and Management Solutions for the B2B Food & Beverage (FnB) sector. While Kuick operates on a commission basis, DineOrder follows a subscription model. This flexibility enables customers to choose the plan that best aligns with their economic needs. Both platforms feature intuitive interfaces that are simple and easy to operate, accommodating users with varying levels of digital competence.
How do you see the SaaS and FinTech industries evolving over the next five years, and what role will RedoQ play in shaping that future?
Over the next five years, AI-driven automation will fuel the growth in the sector. The SaaS platforms will increasingly integrate FinTech solutions within them. This will allow businesses to carry out financial operations within an integrated system. Consequently, data and cybersecurity will increasingly become important and form a part of the SaaS ecosystem.
At RedoQ, we are at the forefront of AI and cloud tech, and we are exploiting it to build future-proof systems which will allow rapidly evolving FinTech products to integrate seamlessly into our systems. Such innovative products will set market standards and provide a push towards robust systems.
What have been the biggest challenges in scaling RedoQ, and how did the company overcome them?
One of the biggest challenges while scaling the company was to sustain the growth rate, while growing as a company. The resources had to be judicially allocated to maintain product performance and expansion into new areas. A robust infrastructure was developed to handle the growing customer base to reduce the overheads on tested products. Simultaneously,additional resources were funneled into new product development to generate additional revenue for the sustained growth of the company.
How does RedoQ differentiate itself from competitors in the FinTech and SaaS space?
RedoQ differentiates itself in the competitive FinTech and SaaS space by offering an all-in-one platform that combines cloud solutions, AI-driven analytics, and EPOS (Electronic Point of Sale) systems. This allows businesses to manage all the different aspects of the company from a single platform. The platform also contains built-in rights restrictions to certain options depending on the requirements of the customer, preventing data misuse and cross-contamination. Moreover, cloud scalability and AI for predictive analytics give businesses actionable insights, real-time financial tracking, and automation. These future-proof solutions set RedoQ apart from its competitors.
Could you share any success stories or case studies that highlight the impact of RedoQ’s solutions on its clients?
Two notable success stories that demonstrate the impact of RedoQ’s solutions are Dixy and Tokies, both popular food joints listed on platforms like Dineorder and Kuick. RedoQ has been instrumental in driving their success by managing their branding and marketing efforts. Through a strong online presence, these food joints have consistently ranked as top performers, generating a significant number of orders. The enhanced visibility and targeted marketing strategies have played a crucial role in their growth and success in a highly competitive market.
How does RedoQ approach customer feedback and incorporate it into the development of new features and products?
At RedoQ, we work closely with clients throughout product development. This allows us to better understand the customer requirements and dynamically make adjustments as per their needs. Moreover, we analyse key traction points and user interaction with our interface during the maintenance process. This gives us an opportunity to discuss suitable upgrades and new feature development with our clients. All features and upgrades are customized to the clients’ needs.
What are RedoQ’s key focus areas for innovation and growth in the coming years?
RedoQ, as a conglomerate, is strategically exploiting its tech competency to integrate AI and cloud-based solutions into its offerings. This involves developing state-of-the-art cloud-based AI platforms for our clients. We have also secured a banking license under the Kuick portfolio to offer financial solutions to clients. Healthcare is another area where RedoQ wants to leverage technology to offer patient care and diagnostics. The company is also looking to expand into pharmaceuticals and is ready to bring some over-the-counter and prescription drugs to the market.
With FinTech evolving rapidly, how is RedoQ ensuring compliance with global regulations and maintaining trust with customers?
RedoQ complies with the highest international regulatory framework when it comes to maintaining customer trust. In addition, RedoQ employs advanced encryption and AI-based fraud detection features in its products.
We follow the European GDPR framework and enforce strict anti-money laundering and KYC requirements for our products. We embed these compliance measures directly into our offerings to ensure the highest degree of security and privacy. The customers also have the option to dynamically alter the compliance protocols as per the evolving regulatory policies.
How does RedoQ plan to expand its global presence?
RedoQ already has a presence in 5 countries and is planning to expand to 8 countries by the end of next year. Our expansion plan focuses on assessing markets with high growth potential, particularly in emerging regions such as Asia, the Middle East, and Africa. These regions are rapidly being digitized due to increased internet penetration. This is supplemented by the increase in the purchasing power of these regions. Therefore, we are keeping a close eye on opportunities in these regions for a suitable entry
