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Egyptian Startup Mumm Launches ‘Mumm Prime’ Egypt’s First Premium Chef
Egypt’s homemade food service Mumm has launched “Mumm Prime”, Egypt’s premium online chef subscription service on Sunday. For an affordable monthly subscription fee; the service offers customers clean, freshly cooked homemade food for the same price of its raw supermarket ingredients.
Saving time and effort on daily chores and money on monthly household budget; Mumm Prime also gives its customers the convenience of ordering for next day or prescheduling their meals for up to a week in advance.
The Mumm Prime service launch marks the latest success in Mumm Prime’s significantly fast expansion in the Egyptian market since its initial launch to a limited segment of the market as a closed beta on the 2nd of April.
Soft launching in Tagamoa and Downtown areas on the 5th of May by Mumm, local homemade food startup, Mumm Prime garnered highly positive feedback; facilitating its market growth and setting ground for its delivery coverage expansion to all of Mumm’s active delivery locations last Thursday.
Parallel to its launch, Mumm attracted many partnerships with giant household names in the industry; including Etisalat, Kiri, and Nestle.
Fadi Antaki, CEO of A15 and one of Mumm’s primary investors, expressed faith in Mumm Prime’s promising potential in the market. “This expansion is just the beginning. Mumm Prime is not only the first Chef subscription service in Egypt and the Middle East, it’s also an intuitive solution to a growing demand in the lives of modernday Egyptian working mothers that wouldn’t have been possible without the technology and economies of scale that the team has built the past years.”
According to the May 2019 issue of World Bank’s Women Economic Empowerment Study; 91 percent of surveyed women reported spending an inordinate amount of time on unpaid household activities, and 27 percent reported that they perform unpaid care for family members, the value of which the survey estimated at EGP 496 billion. Moreover, survey findings also show that domestic unpaid work for married women does not decrease when they join the labour market, resulting in women spending almost equal hours on unpaid domestic work a week as they do in their fulltime jobs.
Giving people access to freshlycooked, clean homemade food for the highly affordable price of its raw supermarket ingredients, Mumm Prime presents working mothers with an opportunity to alleviate their household responsibilities on the consumer end and to increase their incomes on the homecook end. Expressing optimism for the future of Mumm Prime, Sharif ElBadawi, Partner at 500 Startups and a primary investor in Mumm, remarked: “Mumm’s readiness and success in the Mumm Prime launch goes to show the operational efficiency of the product, and the startup’s quick response to emerging demand. I have absolute confidence in its imminent prosperity and longterm scalability, and I’m looking forward to seeing Mumm Prime in every Egyptian home.”
Expanding on the concept of a homemade food subscription service; Waleed Abdelrahman, CEO and founder of Mumm, explains: “For the low subscription fee of EGP 300, working mothers everywhere can get the grueling chores of grocery shopping, food preparation, cooking, dishwashing and cleaning off their hands; saving them time, effort and money.” He adds: “Mumm Prime is more than a food subscription service, it’s the concept of a new lifestyle where working women don’t have to do twice the work on a normal week day, but rather focus on what really matters to them.”
Protected by local and international hygiene certifications, Mumm Prime kitchens are inspected against 99 international quality standards by a HACCPcertified hygiene doctor on a regular and surprise basis, the approved chefs are certified by the Ministry of Health and all Mumm Prime meals go through a tasting panel before making it to the final menu. Ensuring a transparent feedback process, the menu items are also publicly rated by the consumers on the website.
Commenting on Mumm Prime’s health features, which include displaying the nutritional components and calorie count of each meal, Waleed Abdelrahman added: “We have a lot of features in the pipeline for the upcoming months that will continuously improve this premium package as a staple in the daily lives of thousands of people throughout Egypt.”
Since its launch in 2015, Mumm has been connecting hungry professionals with over 200 active kitchens around Cairo; providing them with a large variety of single, familysized and frozen homemade meals for an affordable price tag.
Adapting Egyptian, Arab and international cuisine into its recipes, Mumm meals attracted a lot of regular customers from different walks of life; including busy corporate employees, single parents, independent millennials and thriving baby boomers at the peak of their careers. Mumm continues to attract different segments of the Egyptian society with its affordable, adaptive offerings and easytouse online platform.
Lendo, a Saudi Arabia-based Shariah-compliant crowdlending marketplace, has signed a Memorandum of Understanding (MOU) today with J.P. Morgan to improve access to financing for small and medium-sized enterprises (SMEs) across the country.
The MOU was signed during 24 Fintech, a premier fintech event that brings together industry leaders, innovators, and investors in Riyadh.
J.P. Morgan and Lendo are working together on potential opportunities to support the SME sector in Saudi Arabia in growing and sustaining the remarkable demand in this market.
“This strategic collaboration with J.P. Morgan, a pioneer in the financial industry, marks a significant milestone for Lendo,” said Osama Alraee, CEO and co-founder of Lendo. “By combining our strengths, we’ll deliver cutting-edge financial solutions to SMEs, supporting their growth and contributing directly to the realization of Saudi Arabia’s Vision 2030.”
The SME financing landscape in MENA presents a substantial market opportunity as limited financial access continues to restrict the growth of the region’s businesses, with commercial banks hesitant to issue loans to SMEs at scale, resulting in a high percentage of declined financing requests annually.
The total SME financing gap in developing countries is estimated to be approximately $5.2 trillion, according to the International Finance Corporation (IFC).
Lendo’s debt crowdfunding platform aims to bridge the financing gap for SMEs, aligning with Saudi Vision 2030’s goal to significantly expand SME lending from 4% in 2018 to 20% by 2030.
According to the latest available report from the Saudi Central Bank (SAMA), the total value of debt crowdfunding in Saudi Arabia surged from SAR 1.4 million in 2019 to SAR 771 million in 2022, marking a remarkable growth.
Lendo raised SAR 132 million ($35.2 million) in total funding from leading investors, including the most recent Series B led by Sanabil Investments, a wholly-owned company by the Public Investment Fund (PIF).
Since its inception in December 2019, Saudi fintech Lendo has processed over 5,000 financing transactions on its platform, providing over SAR 2 billion ($600 million) in financing to SMEs and generating SAR 280 million ($74 million) in returns for investors.
TA Telecom, a prominent player in the Middle East’s tech sector, has unveiled AnteThink, an AI-driven tool designed to enhance decision-making processes for individuals and businesses alike.
With a history of influencing the tech landscape through various initiatives, including advanced mobile solutions, high-volume payment platforms, and ventures in e-commerce, fintech, and analytics, TA Telecom has carved a niche for itself. Serving a vast user base of 40 million and processing an impressive 15 billion transactions across its platforms, TA Telecom has cemented its position as a tech industry leader, with some of its ventures achieving the status of Y Combinator companies.
Established in 2000, TA Telecom has emerged as a prominent player in the technology sector. With over 40 million users and processing 15 billion transactions annually, TA Telecom has made a notable impact. Recognized for its contributions by the Financial Times and featured on Deloitte’s list of fastest-growing tech companies in EMEA, TA Telecom is known for its adaptability and forward-thinking approach in the ever-evolving global tech landscape.
Sameh Ibrahim, CEO of TA Telecom, highlights the potential of AnteThink: “AnteThink reflects our commitment to leverage technology for practical impact. It aims to provide clarity and confidence in decision-making, whether in the professional or personal sphere. AnteThink is a tool that can empower startup founders, executives, and individuals to make more informed choices, alleviating the stress and uncertainty often associated with critical decision-making.”
Mostafa Ashour, CEO of Y Combinator-backed startup NowPay, shared his perspective on AnteThink: “AnteThink transformed our strategic planning, allowing us to explore various scenarios and prepare for different outcomes. It has strengthened our decision-making process, helping us navigate the complexities of the business landscape.”
AnteThink embodies TA Telecom’s commitment to innovation, focusing on supporting the startup ecosystem. The tool is tailored to help leaders and executives navigate the complexities of business management and strategic development by providing a clear picture of potential outcomes.
Key Features of AnteThink include:
1. Second Order Mode: Offering a comprehensive analysis of broader impacts, fostering a strategic mindset for long-term success.
2. Optionality Mode: Enabling detailed evaluation and comparison of different choices to ensure decisions align with strategic objectives and values.
3. Inversion Mode: Focusing on identifying and mitigating potential risks, thereby strengthening risk management strategies.
Credit: Antethink
AnteThink’s advanced AI technology aims to assist decision-makers with insightful analytics, offering guidance through the decision-making process.
Selina Bieber, the Senior Director of Global Markets at GoDaddy, has predicted a significant increase in Egypt’s e-commerce revenue. By 2028, it could reach $9.88 billion.
Godaddy is forming strategic partnerships and launching initiatives to help local entrepreneurs. These efforts align with Egypt’s digital transformation goals and its Vision 2030.
In an interview with the Arabic financial news “Amwal Al Ghad,” Bieber spoke about GoDaddy’s plans and how they match Egypt’s 2023 strategy. She highlighted the company’s aim to provide effective, easy-to-use digital tools and services. By 2024, GoDaddy wants to serve more customers in Egypt by making its digital tools more widespread.
The company is working closely with the Egyptian government, especially the Ministry of Planning. They are offering training programs to improve the digital skills of startups and existing businesses. GoDaddy’s services in Egypt include domain registration, web hosting, e-commerce solutions, and digital marketing tools.
Recent surveys support Bieber’s positive outlook for e-commerce in Egypt. They show a clear trend towards digital strategies among small businesses. Many are realizing the importance of having an online presence for their growth and success.
As GoDaddy continues its partnerships and supports government digital initiatives, its influence on Egypt’s digital landscape is growing. The company is committed to sustainability and reducing its carbon footprint. It aims not just for business growth but also to contribute to a sustainable and thriving digital economy in Egypt.
The 2028 projection indicates a vast potential for e-commerce, with GoDaddy playing a key role in this digital evolution.
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