Egypt’s Appetito merges with Saudi company Jumlaty to create top groceries platform NOMU
The Egyptian company Appetito, which offers grocery delivery services, has joined with its Saudi counterpart Jumlaty to become NOMU, which aspires to become the region’s top platform for food-tech supply chains.
Appetito is a grocery delivery platform that was established in March 2020 by Shehab Mokhtar. It purchases goods from producers, holds them in its warehouses, and then sends them to clients via small fulfillment facilities.
The firm obtained US$2 million in pre-seed capital in late 2021, and in June of this year, it purchased Lamma, a Tunisian platform for rapid trade, to extend its operations into Morocco, Tunisia, and West Africa.
Contrarily, Jumlaty is a food-tech supply chain platform that uses AI, social commerce, and smart finance to offer premium grocery goods and more “at a great value with a price match guarantee”.
Following their merger, NOMU was born, with the capability to serve the existing infrastructure of 25 million people and 100,000 F&B outlets. NOMU is already active in Saudi Arabia, Egypt, Tunisia, and Morocco.
“Appetito and Jumlaty have been, separately but similarly, working hard to reinvent the grocery supply chain. Both have focused on reliability, speed, and affordability, building a solid reputation and a loyal customer base of families and F&B businesses. Our merger will set us on the path to reach SAR100 million (US $25 million) in revenue and positive EBITDA within 2023, with important synergies on the tech, marketing, and procurement fronts,” said Mokhtar, CEO of Appetito, now CEO of NOMU.
“Both companies shared the same vision on how to transform the industry, combining smart tech, lean operations with a deep focus on unit economics. Together we capture the entire value chain, from monthly shopping to weekly refills and outdoor dining. Most importantly our journey now as one company will be accelerated thanks to an incredible team of international talents and supportive investors,” said Salman Attieh, CEO of Jumlaty, now chairman of NOMU.
NOMU will have its main offices in Riyadh and Abu Dhabi’s International Financial Centre, placing it in a prime location to expand its operations and eventually encompass Pakistan and other important Sub-Saharan African nations.
