F&B startup elmenus receives investment from former Just Eat CEO
Egypt-based F&B startup elmenus has announced an investment in the company from David Buttress, who has also joined the Board. David is the former CEO of the global food-ordering firm, Just Eat.
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elmenus began as a comprehensive directory providing users with menus and information about restaurants, while growing a community of followers who shared images and reviews. With a mass of users and restaurants, elmenus launched its online ordering in late 2018.
Since then, it has experienced success in Egypt’s underserved online ordering market. Elmenus has grown revenue by 300%, achieving significant market share, all with less than $10 million in funding, the startup states. This included an $8M Series B round in 2020, led by UAE-based Global Ventures and Algebra Ventures.
David has an extensive entrepreneurial and investment background having joined Just Eat in 2006 to launch its UK business. He led Just Eat in making global acquisitions and investments including the acquisition of MenuLog in Australia for $855 million and taking a majority stake in Brazil’s iFood.
David has also led Just Eat UK from a startup to becoming a large European technology IPO, within a decade. He is currently a Venture Partner at 83 North, and has several successful startups in his portfolio.
David’s expertise in customer-centric service development will support elmenus as it formulates its growth strategy and explores expansion opportunities. In the next 18 months, elmenus plans to scale its offering and expand its market share, with 4,000 new drivers to be recruited, enrich its social and personalized dish discovery experience, and empower restaurants to be stronger partners.
Amir Allam, CEO of elmenus, said, “As we aim to become the go-to food app for all dining decisions, and a partner of choice to restaurants to help them solve their scaling challenges in the MENA region, I believe David’s insights and exceptional record will play a vital role in accelerating our growth and guiding elmenus in acquiring a significant share of the market. We are very excited to be working with an industry veteran like David. His belief in our vision is a grand testament to us.”
David Buttress commented on the investment, “elmenus’ exponential growth this past year has been quite remarkable. It has been owning the food discovery approach, making it the stronger partner to restaurants as it provides them with more than just online ordering services.
“While elmenus witnessed a 3x growth in 2020 since delivery increased drastically in light of the COVID-19 challenges and more restaurants outsourced their delivering operations, the company is expected to grow 10x in 2021 as it upscales its product and restaurant offerings. It is an exciting time in the company’s evolution.”
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