From bootstrapping to raising funds: UAE banker shares journey of building food startup

Born in the UAE to an Emirati father and an Indian mother, her early years in both the UAE and India had a deep impact on her worldview. “My childhood was a bit of a journey,” recalls Tahany Taher, an Emirati banker-turned-entrepreneur.

“I was born in the UAE and spent a few years here before moving to India. I saw poverty and hardship up close. Those years really shaped me. They influenced everything about me: how I think, my drive, and the way I approach every project.”

After returning to the UAE, Tahany built a successful career in banking, ultimately leading the commercial banking division for a multinational bank. However, the onset of Covid-19 prompted a period of reflection that would alter her path.

“During that time, I had the opportunity and mental space to reflect on what more I could do beyond just caring for myself and my family,” says Tahany. “Covid made me realise how fragile life is. You start thinking, what if you don’t make it to 50 or 55? What can you do now to make a difference?”

The purpose

The answer came through her connections in the food supply business back in India. With friends who worked closely with farmers, she learned about the systemic issues plaguing the industry — corruption, unfair pricing, and the alarming rise in farmer suicide rates. “I thought, how could we change this?” she recounts.

“We quickly came together and thought, could we bring those products to more developed markets, buy directly from the farmers, give them fair prices, and help those who desperately needed a market to survive?”

This initiative was not only about social impact; it also addressed the inflated prices in the UAE market. “It felt like I was contributing to both parts of my identity—being half Indian and half Arab—and helping both countries in the process,” she says.

Thus, Hayawiia was born, a gourmet food destination designed to cater to a healthy lifestyle. The platform quickly gained traction, and in 2021, it was honoured with the FedEx 'Best Startup Business of the Year' award in the region.

“We started sourcing products from India, Pakistan, Bangladesh, Nepal, and Turkey,” says Tahany. “We also began working with women entrepreneurs and small home-based brands, where women would package products at home, and I would distribute them in Carrefour.”

From 'seed' to flower

Initially, she started with her own online platform, and then expanded to other channels such as InstaShop, Amazon, Gipson, and supermarkets. “That’s how we grew — sourcing products, creating brands, and supplying them to the UAE market. From there, we looked at expanding into the GCC, including Saudi Arabia and Qatar, and created new brands that gained recognition.”

Tahany also acknowledges the unique advantages that come with being a woman entrepreneur in the UAE. “I would say that being a woman has actually helped me quite a bit because it opens a lot of doors. Everyone wants to support women entrepreneurs and startups, which is amazing,” she shares. Major companies like Carrefour and Lulu have played pivotal roles in her journey, providing invaluable support.

Despite these advantages, the road to success has not been without challenges. In the early days of her startup, cash flow management proved to be a significant hurdle. “The biggest issue was funding,” she admits. “We were buying everything with cash because the suppliers we worked with were so small that they couldn’t offer us any credit.”

Pitfalls of starting up

Correctly pricing your product, forecasting your cash flow, and planning your execution were crucial to the success of Hayawiia, says Tahany. “Cash flow is something you really need to plan for carefully,” she advises. “Even if you have the best idea and concept, everything can fall apart if it’s not planned well. You’ll need social media, staff, transportation for goods, and distribution.”

Tahany’s journey is a balancing act, especially when it comes to pricing and sourcing the products. “I’m taking a risk by buying from very small producers who could go out of business tomorrow or might not have the capacity to produce for me later,” she adds.

To mitigate this risk, the entrepreneur chose to work exclusively with top-tier supermarkets initially, ensuring that her revenue stream remains stable. “As I grow, I can diversify by working with a mix of well-known brands and smaller, lesser-known ones.”

However, her experiences as a banker proved invaluable as she navigated the complexities of startup life. “As a banker, I highly recommend [you keep] at least 18 months of runway to keep things going,” says Tahany.

“You often need to rely on friends and family in the beginning. That’s how you bootstrap— by getting support from those who trust you.” While this strategy is vital, it comes with its risks; Tahany admits, “There’s a risk of losing some friends if things go wrong.”

Leveraging bank deals and external support

As her business began to grow, she also sought external support from banks like RAK Bank, which assisted her through invoice discounting. This facility enabled her to receive payments much sooner—an essential factor when dealing with larger retailers that typically take longer to settle their invoices.

“For example, Carrefour pays after 90 days, but with FAB’s discounting facility, I could receive my money in just two days instead of waiting the full 90. That really made a difference," she adds.

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