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
IFC to set up CFA17bn guarantee for Orange Bank digital SME loans Facility covers up to 50% of loans in Côte d’Ivoire, Senegal Scheme targets SMEs,...
Uber ended its operations in Tanzania on January 30, 2026 The exit follows years of tension over fares, commissions, and regulation The move...
The African Development Fund plans its first-ever market borrowing of about $1 billion. Donor contributions fell sharply, with the latest...
About 87.5% of Nigerian fintechs use artificial intelligence to detect fraud, according to the Central Bank of Nigeria. Nigerian financial...
Most Read
01

African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...

African Startup M&A Hits Record 67 Deals in 2025, Led by Fintech
02

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
03

Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...

Nigeria’s central bank upgrades fintech licenses amid rapid digital growth
04

ECOWAS has provided CFA400 million to support refugee assistance in Togo. The funding targets the...

ECOWAS grants CFA400mln to support refugee assistance in northern Togo
05

Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...

Crypto Sovereignty Was CAR’s Goal. A Report Says Crime Risks Took Hold Instead
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.