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
Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...
Kossi Ténou succeeds Badanam Patoki as president of the AMF-UMOA. Ténou brings over 20 years of e...
Senegal, BOAD launch Fovas to monetize public infrastructure assets Fund aims to boost financing...
IPO attracts 81,466 subscribers, the largest in Morocco in a decade Offer oversubscribed 65 times, raising 750 million dirhams Funds to...
As West and Central African governments push to accelerate their digital transformation, the question of how to finance the necessary infrastructure has...
Bank secures 81.8 billion yen from regular and retail samurai bonds Over 100 Japanese investors participate amid strong demand for short...
The government values the Nairobi–Mau Summit and Nairobi–Maai Mahiu–Naivasha highway projects at $1.54 billion. President William Ruto says...
Niokolo-Koba National Park, designated both a Biosphere Reserve and a UNESCO World Heritage Site, is one of the ecological treasures of Senegal and all of...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...