ReserveOut, an online restaurant reservation platform announced plans for an aggressive geographical expansion in the Middle East and North Africa with a particular focus on Saudi Arabia and Egypt.
ReserveOut launched in Jordan in 2012 and it is currently based in seven cities across MENA. The company provides a restaurant reservation platform with 24/7 online reservations, real-time booking and confirmation.
The planned expansion is fueled in part by a $1.3 million financing round by existing and new investors that concluded in 2014. ReserveOut plans to expand its various teams, move into new territories and improve penetration in existing markets.
“In the short term...we want to be established in every main city,” said Khalil Shadid, founder and CEO of ReserveOut. “They are major markets that need to be fully operational as soon as possible.”
The number of restaurants adopting ReserveOut’s online reservations grew by 130 percent last year. More than 400 restaurants currently use ReserveOut’s channels. Total restaurant revenue through online reservations reached $8.4 million while user adoption of the company’s services grew by 60 percent.
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