Fine Diner secures funding round for UAE expansion
Dubai-based Fine Diner has received seed funding of USD 150,000 to expand its unique B2B2C platform to other Emirates and adopt new brands. The Fine Diner business model eliminates the risk of launching new brands in the food delivery space by eliminating OPEX and CAPEX.
Over the past year and a half of operation, Fine Diner has launched several food delivery brands including Fine Diner Roast Dinner, Fine Diner Chippy, Fine Diner Store for various lodging and catering platters, 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 20 more 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 utilize the unused capacity of fully equipped and underutilized kitchens, allowing them to host specific restaurants for third-party delivery, which increases their source of income and their effectiveness.
Bernard Fantoli, Cluster General Manager for TIME Hotels has been working with Fine Diner for two years. The company saw its turnover increase by 15%.
“Working with Fine Diner has been amazing. Since the beginning, we have seen order volumes increase. Our improved kitchen management operations, efficient quality control and renewed systems have enabled us to fulfill over 200 orders per day. Due to our recent success, our staff are heavily involved in the process of our production, packaging and logistics operations to meet the ever-increasing demand for food delivery. This trip with Fine Diner helped us. Our teams are currently implementing the same in the kitchens of our partner hotels to further develop this successful concept.
Lead Angel Investor Faisal Alabdelsalam explains, “The Fine Diner team is diverse and has built a very creative, lucrative and scalable business model. Its management has an ironclad entrepreneurial spirit and will find solutions to multiple challenges to achieve its vision of building the largest network of kitchens in the Middle East while minimizing, if not eliminating, the CAPEX and OPEX risks of the models. traditional dark kitchens”.
Fine Diner generated $128,000 in Q1 2022, reporting 256% quarter-on-quarter growth from Q1 2021 with a gross margin of 34%. 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.