Tenmou, Bahrain’s first ‘Business Angels company’ recently announced its partial exit from the mobile application “Eat”, earning a 20 X return on its initial investment following the application’s successful launch. Raising US $4.2 million to-date, successfully expanding from the Kingdom across the United Arab Emirates and greater GCC area to a total of 22 countries, the mobile app accommodates more than 2,400 restaurants and is serving more than 5 million diners.

Nezar Kadhem, Founder of “Eat App” revealed, “I came to Tenmou with just an idea, no revenue, no product and no customers. Tenmou realized the opportunity, took the risk and agreed to invest and help us focus on the necessary milestones in our early stages. With their advice and guidance, we achieved good traction and that helped us raise further funding and grow. Years later, I’m proud to say that we are the first exit for Tenmou, delivering a valuation of more than 20x the value since our inception. We were able to grow Eat App to a product serving more than 2400 restaurants across the world and seated over 5 million dinars. We’re proud to put Bahrain on the global scene, and hope to continue to grow Eat to the next level, and become the best restaurant management tool on the planet.”

Chief Executive Officer of Tenmou, Mr. Nawaf Alkoheji, revealed, “We are proud to witness the growth of “Eat” having supported its development from the early seed stages up until the success story it is today, on the verge of becoming one of the leading providers of tech solutions in the F&B industry.”

Source Credit: Startup MGZN
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