The startup will use the funds to expand across Egypt, invest in customising the app’s user experience, and develop data analysis tools to help its restaurant partners build their businesses through a better understanding of customer preferences.
Amir Allam, CEO of elmenus, commented: “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 – to help them scale. This funding demonstrates the investors’ strong belief in our position in Egypt, and our capability to dominate the market.”
Ashraf Sabry, CEO of Fawry, said: “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 its riders. The Egyptian food space has high growth potential, with technology disrupting the status quo, as customers’ needs in food service provision rapidly change.”
elmenus – which now has over 1.5 million monthly users – is the most comprehensive platform for restaurant information and food discovery in Egypt, and its aim is to personalise food recommendations at a dish level.
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. Its cutting-edge digital solutions will also drive its existing database of several million users, to switch to online ordering.