Eat App funding to expand into Saudi Arabia and Bahrain
Dubai-based restaurant reservation platform, Eat App, plans to treble its headcount and launch new offices in Saudi Arabia and Bahrain after raising $5 million from its latest Series B funding round. As well as boosting the company’s sales and engineering teams, the latest funding will also be used to invest in R&D, unique IP and technology.
The funding was led by 500 Startups and Derayah VC, with follow-on investment from MEVP, FA Holdings and several international VCs and regional angel investors.
The company’s product roadmap is focused on new verticals including restaurant payments, guest loyalty, CRM and enterprise level technology. Eat App will also continue building innovative restaurant discovery options for its consumers.
Launched in 2015, Eat App currently powers over 1,000 restaurants, hospitality groups and hotels and has processed more than 10 million diners to date. Eat App has also built one of the largest partnership networks, powering reservations for Google, TripAdvisor, Zomato and Time Out, amongst more than 30 other consumer facing platforms, representing over 46 million monthly active users, according to a statement from the company.
In 2019, Eat App, which currently has a staff of over 50, generated over $32m in revenue for its restaurant partners.