A giant of the industry, David Buttress will bring a wealth of experience to the Egyptian startup, alongside its latest investment, too.
Almost exactly one year after raising a life changing $8 million investment, Egyptian food discovery and ordering platform, elmenus, has announced that it has scored a fresh investment from none other than David Buttress, the former CEO of global good delivery service, Just Eat.
In Buttress, the foodtech startup have also gained a new board member, a move that elmenus founder, Amir Allam, hopes will bring with it a wealth of experience, particularly in customer-centric service development. Having joined Just Eat in 2006 to launch its UK business, Buttress went on to transform it from a promising startup to Europe's largest tech IPO - in less than ten years. During his tenure, he also spearheaded global acquisitions and investments, most notably the acquisition of Australia MenuLog for $855 million and taking a majority stake in Brazil’s iFood. A serial entrepreneur through-and-through, Buttress is also currently a Venture Partner at global venture capital firm, 83 North, and boasts several successful startups in his portfolio.
For elmenus, the news comes as another landmark moment for what began in 2011 as a simple website featuring the menus of restaurants and cafes across Egypt. 2018 proved to be a turning point for Allam and co, however, when elmenus also introduced online ordering to its platform. For some, it was a risky move considering Otlob (now Talabat) had a firm stranglehold on the market. Since then, however, it has grown revenue by 300% and taken its fair share of the Egyptian market. It's a feat made all the more impressive by the fact that this was all achieved with less than $10 million in funding, $8 million of which came after it launched its online ordering service.
For Allam, the addition of Buttress to the elmenus board holds the key to yet more success for the company. Over the next 18 months, Allam intends to channel this new found wealth and experience to scale its offering and expand its market share by recruiting 4,000 new drivers, while enriching its social and personalised dish discovery experience.
“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,” he said. “We are very excited to be working with an industry veteran like David. His belief in our vision is a grand testament to us.”
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