Finance

Fawry Group leads a $10 million pre-Series C round in Egyptian food delivery platform elmenus

Fawry Group leads a $10 million pre-Series C round in Egyptian food delivery platform elmenus
Wednesday, 14 July 2021 12:53

Elmenus, a venture-backed food delivery startup based in Egypt, that serves over 1 million monthly users, has raised $10 million in a pre-series C investment. The funding round was led by Fawry Group with participation from Property developer Marakez, and Luxor Capital.

The fund will be used to expand the platform across Egypt while investing in customizing the app’s user experience and developing data analysis tools that will help its partners build their businesses through a better understanding of customer preferences.

“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 riders. The Egyptian food space has high growth potential, with technology disrupting the status quo, as customers’ needs in food service provision rapidly change,” said Ashraf Sabry, CEO of Fawry.

With already over 1 million monthly users, elmenus aims to empower 12,000 restaurants across 20 Egyptian cities with new data and tool offerings to boost their businesses by the end of this year.

The Egyptian food delivery platform is funded by nine investors including Global Ventures, Fawry, and Algebra Ventures as lead investors. Since the start of its operations in 2012, the startup has raised a total of $19.5 million in funding with the latest raised from a Series C round yesterday.

Solange Che

On the same topic
Access Holdings to seek shareholder approval for ₦40B private placement on Dec 18 Deal aims to boost capital base amid new CBN recapitalization rules...
REGIDESO and Singapore-based EFGH signed a service framework agreement to digitalize revenue collection nationwide. The partnership will develop secure...
Cameroon prioritizes external debt to protect credit standing, delays local payments Domestic repayments to worsen in 2026 as IMF loan payback...
Government seeks CFA3104.2 billion in fresh financing for 2026 Funding need rises by CFA777.7 billion compared with last year Debt risk...
Most Read
01

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
02

Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...

Tanzania’s Mobile Money Goes Global: Vodacom Partners with Visa, Alipay, and MTN
03

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
04

Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...

Mauritania Advances Blockchain Policy to Modernize Digital Public Services
05

CBE raised $200 million in senior debt as a second tranche arranged by Standard Bank New fun...

CrossBoundary Energy secures $200mln for African expansion
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.