With customers from over 35 countries, Eat aspires to expand to new regional and global markets.
Eat, a restaurant booking platform based in Dubai closed $3 million in Series A investment with Middle East Venture Partners (MEVP) on June 4th. This adds to the $2 million Eat has raised as part of the same round in October 2016.
"Eat’s goal is to bring best-in-class software to restaurants and diners and become a central point to the multitude of online channels that make up today’s F&B landscape," says Founder and CEO at Eat Nezar Kadhem, adding that this investment gives the startup additional resources to continue developing this vision regionally, as well as strategically expand into new global markets.
Walid Mansour, partner at MEVP finds Eat as a true success story out of the Bahraini entrepreneurship ecosystem. "We believe Eat is well poised to become the leading provider of tech solutions to F&B players across MENA – beyond its current core markets and beyond table management,” Mansour adds.
“We think the Eat team has what it takes to make this happen. In fact, the most recent growth figures are a testament to superb execution capabilities," he adds "MEVP will support Eat, building on our experience in SaaS regionally and globally."
The Dubai-based platform aims to be the largest restaurant reservation platform of the MENA region, with paying customers based in over 35 countries using its core SaaS platform. According to Magnitt, since establishment in 2013 Eat has seated more than 3.5 million customers, generating over $250 million worth of orders for restaurants in Bahrain and UAE alone. In fact, the number of restaurants on Eat's platform has increased by over four times in the last year which increased monthly revenues by 250 percent.
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