Egypt’s q-commerce Appetito Acquires Tunisia’s Lamma for an Undisclosed Amount

Cairo-based Appetito is acquiring Tunisia’s Lamma to expand operations in Morocco, Tunisia, and West Africa and to become the largest e-Grocery & Q-commerce player in Africa.

Appetito delivers thousands to customers in Egypt through its mobile app. Its customers can access dark stores in 3 cities. Lamma has also developed similar Q-Commerce services in Tunisia, Morocco and Tunisia. It was founded in 2021 by YassirEl Ismaili El Ilirissi, a serial entrepreneur who was also the former GM of Careem (a ride-hailing service). Appetito will have Yassir as its Chief Expansion Officer and Growth Officer.

The founders of both startups have now reached an agreement to create a single entity, operating as “Appetito”. This deal should be completed by the end Q3 2022.

“I’m delighted to welcome unparalleled talent and like-minded entrepreneurs to our family. We believe it’s the best time to expand in Africa to solve the huge inefficiencies in the retail supply chain.” said Appetito Chief Executive Officer Shehab Mokhtar “Having Lamma on board will put us on track to become the largest q-commerce player in the continent, transforming the lives of millions of people and creating thousands of direct & indirect jobs”, Shehab added.

“Lamma & Appetito are a perfect match. We share a common vision, business & operating models. We also share the same values. The idea of forming a regional champion is a great opportunity for entrepreneurs. From our 3 countries, we now have a fantastic platform to expand into new African markets”, commented Yassir El Ismaili El Idrissi.

“This acquisition will allow significant synergies between the 2 companies, starting with a strong and common tech platform. Both companies have been extremely efficient with our capital deployment, having covered 3 markets, all while achieving double-digit margins, and keeping cash burn under control” said Appetito Chief Operating Officer Ahmed Eldemerdash.

The move is a big deal for early investors in both companies. “The Middle East and Africa are fragmented markets, where very few companies have managed to create regional players. We are delighted to be part of the journey!” commented Grégoire de Padirac, Principal at Orange Ventures, an investor of Lamma.

Appetito, an emerging startup in q-commerce, plans to become the biggest q-commerce player for frontier and emerging markets.

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