Elmenus Raises USD 10 Million in Latest Round From Fawry and Luxor Capital
Elmenus, one of Egypt’s leading food ordering and delivery applications, in addition to being one of the pioneering food discovery platforms in the MENA, has raised USD 10 million in the pre-Series C stage, acquiring the investment from Egyptian payment company Fawry as well as New York-based hedge fund Luxor Capital. At the end of the round, the aspiring startup has garnered a total of USD 20 million in investments.
Elmenus first came to be in 2011, when Founder Amir Allam decided to create a website dedicated to food and restaurant discovery in Egypt. Ten years later, Elmenus serves 1.5 million users connecting them with more than 12,000 restaurants all over the country.
According to Menabytes, the startup’s food ordering business has quadrupled in size in the last year alone; Allam believes that such growth was possible because the venture already had a solid foundation, referring to their food discovery platform.
Allam commented on the investment saying, “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.”
Elmenus looks to expand to more governorates within Egypt, and work more on updating their user interface to create a more personalized experience for their customers.
