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elmenus, Egypt’s food discovery and ordering platform, has successfully closed a $10M funding round marking a very promising H2 for the startup. This pre-Series C round was led by Fawry, Luxor Capital which in turn is making its first-ever investment in MENA, and Marakez.
Founded in 2018, elmenus offers a uniquely comprehensive platform for restaurant information and food discovery in Egypt, on the road to complete personalization of food recommendations down to a dish level. Expanding rapidly and scaling their operations, this announcement merely follows the investment and board appointment of David Buttress - the former CEO of global food ordering firm, JustEat - announced earlier this year.
Since its launch, elmenus has helped more than 1.5 million users surf thousands of restaurants and order their favorite meals from a wide variety of menus. At the core of its success is a value-driven approach as they connect restaurants to customers. To commemorate this milestone, elmenus CEO Amir Allam comments “Attracting new investment from Fawry, Luxor Capital and Marakez - following the endorsement of industry veteran, David Buttress, earlier this year - validates elmenus’ unique strategy. We are accelerating the adoption of online ordering by users while enabling restaurants with new verticals, helping them scale. This funding demonstrates investors’ strong belief in our position in Egypt, and our capability to dominate the market.”
As Food & Beverage startups in Emerging Venture Markets continue to crack untapped potential in tech-driven solutions, digital transformation and e-payment platform Fawry will be working closely with elmenus to develop innovative solutions benefitting both restaurants and consumers. Ashraf Sabry, Fawry CEO, expresses their determination to go beyond the role of investor and act as a strategic partner, as he explains “Fawry is looking forward to its journey with elmenus, working closely with the executive team and entering many ventures together. By this investment, we show our desire to not only be a payment catalyst but to be a strategic partner to elmenus, its customers, restaurants and their riders. The Egyptian food space has high growth potential, with technology disrupting the status quo, as customers’ needs in food service provision rapidly change.”
With this newly acquired investment and their most recent endorsement, elmenus is on the road to become one of the more promising Food & Beverage startups coming from the region. They plan on using these funds to expand their operations and convert their database of several million users to online ordering. By the end of 2021, elmenus expects to empower 12,000 restaurants with new data and tool offerings to help them scale their businesses, across 20 Egyptian cities.