- UAE-based restaurant reservations platform Eat App has closed an $11 million Series B round from MEVP, 500 Startups, Derayah VC, Dallah Albaraka, Ali Zaid Al Quraishi & Brothers Company, Rasameel Investment Company, with participation from existing investors.
- Founded in 2015 by David Feuillard and Nezar Kadhem, Eat App provides cloud-based applications to restaurants to increase efficiency and revenue through real-time restaurant reservations, automation and guest data management and CRM.
- The funds will be used to fuel Eat App’s global expansion and for product development.
Source: Startup MGZN
Eat App, a global leading restaurant reservations platform based in Dubai, has today announced the conclusion of its $11 million series B round.
The round includes participation from MEVP, 500 Startups, Derayah VC, Dallah Albaraka, Ali Zaid Al Quraishi & Brothers Company, Rasameel Investment Company, with participation from existing investors.
Eat App had previously raised $5 million at the start of the pandemic in February 2020. Fueled by the recovery in the restaurant business, Eat App has now secured an additional $6 million to capitalize on the post-pandemic adoption of digital tools in the hospitality industry.
To date, Eat App has raised a total of $13m.
The funds will be used mainly to fuel Eat App’s global expansion as in-person dining fully recovers. Eat App’s growth has accelerated rapidly post-pandemic, up 350% from 2021, and now serves customers in 63 countries globally. The funds will also be used for product development focused around helping restaurants and hospitality operators digitize, manage and optimize the guest experience.
Eat App’s co-founder and CEO, Nezar Kadhem said, “Looking back, the pandemic impacted Eat App greatly. Whilst it caused a drop in revenue, it was also one of the largest accelerators of the business. Restaurants were forced to implement digital tools and we were able to help them adapt and re-open. Today, we are doubling down on building a product-led restaurant management solution to become the leader in that category globally.”
“We are very impressed with Eat App’s guest data and reservation technology, as well as its resiliency and growth through the pandemic.” Says Hasan Haider, one of Eat App’s board members. “Eat App is uniquely positioned to expand globally, and we are excited to partner with the team to support their next phase of growth.”