Egypt’s fastest-growing online food ordering company has grown revenue by 300%, and plans an ambitious expansion strategy
Elmenus, Egypt’s biggest food discovery and ordering platform announces an investment in the company from David Buttress, who has also joined the Board. David is the former CEO of global food-ordering firm, Just Eat.
David’s expertise in customer-centric service development will support elmenus as it formulates its ambitious growth strategy and explores expansion opportunities. In the next 18 months, elmenus plans to:
- Scale its offering and expand its market share, with 4,000 new drivers to be recruited;
- Enrich its social and personalized dish discovery experience; and
- Empower restaurants to be stronger partners to elmenus
David has an extensive entrepreneurial and investment background having joined Just Eat in 2006 to launch its UK business. He led Just Eat in making global acquisitions and investments including the acquisition of MenuLog in Australia for $855 million and taking a majority stake in Brazil’s iFood.
David also led Just Eat UK from a start-up to becoming Europe’s largest technology IPO, in just a decade. He is currently a Venture Partner at global venture capital firm, 83 North, and has several successful start-ups in his portfolio.
elmenus began as a comprehensive directory providing users with menus and information about restaurants, while growing a community of followers who shared their love of food via images and reviews. With a critical mass of users and restaurants, elmenus launched its online ordering in late 2018.
Since then, it has experienced rapid success in Egypt’s underserved online ordering market, growing revenue by 300%, achieving significant market share, all with less than $10 million in funding. This included a successful Series B round in 2020 – raising $8 million – led by UAE-based VC firm Global Ventures and Algebra Ventures.
Amir Allam, CEO of elmenus, said:
“As we aim to become the go-to food app for all dining decisions, and a partner of choice to restaurants to help them solve their scaling challenges in the MENA region, I believe David’s insights and exceptional record will play a vital role in accelerating our growth and guiding elmenus in acquiring a significant share of the market. We are very excited to be working with an industry veteran like David. His belief in our vision is a grand testament to us.”
David Buttress commented:
“elmenus’ exponential growth this past year has been quite remarkable. It has been owning the food discovery approach, making it the stronger partner to restaurants as it provides them with more than just online ordering services.
“While elmenus witnessed a 3x growth in 2020 since delivery increased drastically in light of the COVID-19 challenges and more restaurants outsourced their delivering operations, the company is expected to grow 10x in 2021 as it upscales its product and restaurant offerings. It is an exciting time in the company’s evolution.”