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
Moniepoint acquires restaurant software platform Orda Africa Deal expands integrated services across payments, operations, analytics Targets...
Ghana’s stock market gained nearly 20% since late February, leading globally Bank stocks drove the rally, alongside oil-linked gains Stronger economic...
BOA Niger will not pay dividends for 2025 after profits fell 91.8% Earnings dropped sharply amid weaker income, higher costs, and a tough...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as residents. The move aims to capture diaspora...
Most Read
01

Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...

Telecel Ghana plans 150% investment increase in MTN-dominated market
02

Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...

Namibia and Russia Expand Economic Cooperation Across Key Sectors
03

Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...

Togo Passes Law to Criminalize Counterfeiting of West African CFA Franc
04

Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...

Cameroon Signs $1.5 Billion Waste-to-Energy MoUs Amid Urban Sanitation Strain
05

Four years after Russia’s 2022 invasion of Ukraine, the fertilizer market is facing a new shock as m...

Hormuz Tensions Rattle Fertilizer Markets, Adding Pressure to Global Food Supply
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.