Eat App, a restaurant reservation app with with millions of users in the Arab world, has secured a Series B investment of $5 million. The round was led by 500 Startups and Derayah VC with follow on investment from MEVP, FA Holdings and a number of international VCs and regional angel investors.
The app currently powers more than 1,000 restaurants, hospitality groups and hotels, and has processed over 10 million diners to date. Eat App has also built a partnership network powering reservations for the likes of Google, TripAdvisor, Zomato and Time Out, which now represents over 46 million monthly active users.
Co-founder Nezar Kadhem said the investment round comes at “a key moment” in the history of Eat App.
“We have succeeded at building a scalable and predictable restaurant acquisition model, and this investment will facilitate rapid expansion.
“Our first course of action is to triple head count in sales and engineering and launch new offices in Saudi Arabia and Bahrain. We a have an impressive product roadmap focused on new verticals including restaurant payments, guest loyalty, CRM and enterprise level technology. We will also continue building innovative restaurant discovery options for consumers.”
Eat App plans to use the funding to expand its presence across the region, with a particular focus on the Saudi Arabian market. It will also scale its sales and engineering teams, as well as invest heavily in R&D, unique IP and technology.