Egypt's food delivery app elmenus has raised $10 million in a funding round by US and local investors, including New York-based hedge fund Luxor Capital that previously backed global food platforms Zomato, Delivery Hero and Glovo.
The pre-Series C funding round also included investments from Cairo-listed digital payments platform Fawry Group and Egyptian property developer Marakez, elmenus said on Tuesday. Luxor Capital’s investment in elmenus is its first in the Middle East and North Africa.
The Cairo-based start-up will use the funds to expand across Egypt, invest in customising the app's user experience and develop data analysis tools to help its restaurant partners build their businesses through better understanding of customer preferences, Amir Allam, chief executive of elmenus, told The National.
"We are expanding to a lot of new cities within Egypt in our plans to be biggest dominant local player," Mr Allam said. "We are investing in tools and data enablement for restaurants ... to understand their own data, which customers they can attract, the best-performing dishes and how they can improve."
Elmenus also plans to enter other countries in Africa in 2022, because of their geographical proximity, similar demographics and "huge opportunities" in under-served markets, he said. The start-up will also open an office in Dubai to hire talent in the data science and products segments and to provide work flexibility for its employees.
To drive expansion, elmenus is also "hiring aggressively" to grow its workforce of 350 employees, Mr Allam said, declining to provide the number of new hires.
The Covid-19 pandemic has accelerated a push by restaurants to manage their businesses more efficiently, with data tools offering them an opportunity to improve their performance, reach users through a targeted approach and scale up their marketing in the online food ordering segment, he said. Elmenus plans to increase the 12,000 restaurants registered on the app now.
Elmenus, which claims to have more than 1.5 million monthly users, recorded a sharp increase in demand during the Covid-19 pandemic as safety precautions and movement restrictions prompted more people to dine at home and hastened a consumer shift towards online orders.
In February, the start-up secured an undisclosed investment from David Buttress, former chief executive of Just Eat, who is now also on the company's board.
The pre-Series C funding round is still ongoing and elmenus expects it to close "within the coming months", Mr Allam said.
More international investors than regional are joining the funding round and it is too early to reveal the total value of investments, he said.
The Fawry Group, which contributed $1m out of the $10m raised so far, will work with elmenus on digital payment services to serve more restaurants and customers via the app.
"One of the biggest opportunities in Egypt is that there is a lot of unbanked business, including restaurants, and from the consumer side there is a lot of digital enablement to be done," Mr Allam said.
The Fawry partnership enables the company to fill such gaps, helping both restaurants and consumers, he said.
The coronavirus crisis has honed the focus of restaurants on online revenue streams and on streamlining the cash collection process from aggregators such as elmenus, with digital payments easing that process.
Given the importance of cashflow to restaurants, elmenus made changes to its commissions payment process to pay restaurants their fees more frequently during the Covid crisis than the monthly payment cycle previously, Mr Allam said.
The start-up will focus on serving restaurants and diners with more options rather than grow into other online delivery segments such as groceries or pharmacies, he said. "The opportunity is huge here and Egypt is a massive market that is under-penetrated."
With order volumes growing two to three times year-on-year, elmenus recorded gross profit in June and earning net profit is "not too far out", the executive said. He added that elmenus could go public "at a later stage".
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
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How to help
Donate towards food and a flight by transferring money to this registered charity's account.
Account name: Dar Al Ber Society
Account Number: 11 530 734
IBAN: AE 9805 000 000 000 11 530 734
Bank Name: Abu Dhabi Islamic Bank
To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae
Favourite things
Luxury: Enjoys window shopping for high-end bags and jewellery
Discount: She works in luxury retail, but is careful about spending, waits for sales, festivals and only buys on discount
University: The only person in her family to go to college, Jiang secured a bachelor’s degree in business management in China
Masters: Studying part-time for a master’s degree in international business marketing in Dubai
Vacation: Heads back home to see family in China
Community work: Member of the Chinese Business Women’s Association of the UAE to encourage other women entrepreneurs
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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PAST 10 BRITISH GRAND PRIX WINNERS
2016 - Lewis Hamilton (Mercedes-GP)
2015 - Lewis Hamilton (Mercedes-GP)
2014 - Lewis Hamilton (Mercedes-GP)
2013 - Nico Rosberg (Mercedes-GP)
2012 - Mark Webber (Red Bull Racing)
2011 - Fernando Alonso (Ferrari)
2010 - Mark Webber (Red Bull Racing)
2009 - Sebastian Vettel (Red Bull Racing)
2008 - Lewis Hamilton (McLaren)
2007 - Kimi Raikkonen (Ferrari)
LIGUE 1 FIXTURES
All times UAE ( 4 GMT)
Friday
Nice v Angers (9pm)
Lille v Monaco (10.45pm)
Saturday
Montpellier v Paris Saint-Germain (7pm)
Bordeaux v Guingamp (10pm)
Caen v Amiens (10pm)
Lyon v Dijon (10pm)
Metz v Troyes (10pm)
Sunday
Saint-Etienne v Rennes (5pm)
Strasbourg v Nantes (7pm)
Marseille v Toulouse (11pm)
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Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho
