Swipe’n'tap a Cairo based startup building a new Guest Engagement Platform for restaurants and retailers, has secured an EGP 6 million investment from Ideavelopers and Vodafone Ventures.
Swipe’n'tap’s first product, Flyer, will change how restaurants engage their guests. Through tablets placed on restaurant tables, guests will be able to browse digital menus, place their orders, check out, and get entertained. It will allow restaurants to enhance the quality of service, save costs, and increase revenues. The product has has been successfully piloted in two of Mori Sushi’s branches in Cairo, and plans are on the way to expand to other major F&B chains in Egypt.
The company was founded by four young professionals, Ahmed Essmat, Hassan El Sherif, Mohamed Gaafar, and Mokhtar Rawy. They are serial entrepreneurs with experience working in major IT and Internet firms including Itworx, LinkDevelopment, and SpeedSend. They have strong engineering, design, as well as trading experience. In mid 2012 they managed to raise EGP 2 million in angel funding lead by Dr. Khaled Ismail, Chairman of Endeavor Egypt.
The company will use the EGP 6 million from Ideavelopers and Vodafone, to continue building their product roadmap. “Flyer is the first of many products that Swipe’n'tap can introduce to capture the offline retail consumer”, says Ziad Mokthar, Partner at Ideavelopers, “we believe that Swipe’n'tap’s team has the potential to disrupt this industry”
The money from this new investment will be used to expand the deployment of the platform to other major F&B chains, and to invest in building the company’s product roadmap.
This is the first co-investment that Ideavelopers and Vodafone Ventures do together. Both firms believe it will not be the last.
Ideavelopers is Cairo’s largest Venture Capital firm. It manages EGP 265 million in venture funds with over 17 active portfolio companies including Fawry, Smart Card Applications, Siware, Nefsak, Nezal, DrBridge, and Offerna.