Fine Diner secures seed round for expansion across UAE
Dubai based Fine Diner has received a seed funding of US$150,000 to expand its unique B2B2C platform to other Emirates and embrace new brands. The Fine Diner business model eliminates the risk of launching fresh new brands into the food delivery space by eliminating OPEX and CAPEX.
In the last year and a half of operations, Fine Diner has launched multiple food delivery brands include Fine Diner Roast Dinner, Fine Diner Chippy, Fine Diner Store for various platters for hosting and catering, SiX Pizza & Pasta, Chick Shack and Tarboosh, Doners & Pides.
According to Sami Elayan, CEO and co-founder of Fine Diner, the company aims to establish an additional 20 brands by 2022 to fuel growth and revenue as well as expand to other Emirates and the GCC. He added, “As a B2B2C platform, we leverage and utilise the spare capacity in fully equipped and underutilised kitchens allowing them to host third-party delivery specific restaurants increasing their revenue stream and efficiency.”
Bernard Fantoli, Cluster General Manager for TIME Hotels has been working with Fine Diner over the last two years. The company has seen revenue increase by 15 percent.
“Working with Fine Diner has been extraordinary. Ever since the beginning, we have seen volumes of orders increase. Our improved kitchen management operations, effective quality control and renewed systems allowed us to fulfil over 200 orders daily. As a result of our recent success, our staff is heavily involved in the process of our production, packaging and logistical operations to keep up with the ever-growing food delivery demand. This journey together with Fine Diner helped us. Our teams are now implementing the same within our sister hotels kitchen to develop further this successful concept.”
Faisal Alabdelsalam, the lead angel investor, explains, “The Fine Diner team is diverse and has built a business model that is very creative, lucrative and scalable. Its leadership has an ironclad entrepreneurial mindset and will find solutions to multiple challenges to achieve their vision of building the largest network of kitchens in the Middle East while minimising, if not eliminating, the CAPEX and OPEX risks of traditional dark kitchen models”.
Fine Diner has generated $128,000 in the first quarter of 2022, signalling a 256 percent QoQ growth compared to Q1’21 with a gross margin of 34 percent. The company is also on track to close $1,000,000 in revenue this year.
Fine Diner currently operates in Dubai and Fujairah and hopes to cover the rest of the UAE and GCC with its new seed funding.