Wednesday, August 17, 2022
Wednesday, August 17, 2022
Home Startups Egyptian food delivery startup elmenus raises an undisclosed amount of funding from Careem for expansion.

Egyptian food delivery startup elmenus raises an undisclosed amount of funding from Careem for expansion.

by Weddy Thuranira
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Careem, one of the biggest names yet to be lured by the sector’s growth potential in the Arab world’s most populous nation, is investing an undisclosed sum in a leading Egyptian food-delivery app.

Careem co-founder and CEO Mudassir Sheikha said in a statement  that the partnership with elmenus, which connects customers with over 12,000 eateries in five Egyptian cities will extend their reach in one of their largest ride-hailing markets.

The Dubai-based firm follows Egyptian payment firm Fawry and the former CEO of Just Eat in investing in elmenus, which launched as an online directory a decade ago before adding deliveries in 2018. Its competitors include Delivery Hero SE’s Talabat and Jumia Technologies AG.

The North African country of 100 million people, where everything from a slice of cake to a blood test can be sent to your door, represents a sizable and still largely untapped market for apps like elmenus. While Egypt’s food delivery market is worth an estimated $2.8 billion, 90% of customers still order by phone, according to Careem’s statement.

The partnership with elmenus, according to Careem, is a step closer to launching its Super App across the region. The function in the United Arab Emirates provides 11 services, including ride-hailing, food and grocery delivery, and payments. Its own meal delivery services cover Saudi Arabia, the United Arab Emirates, Jordan, Pakistan, and Qatar.

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