Egyptian OneOrder Secures $3M to Explore Growth Opportunities Across Africa
Dec 7, 2022
Enrich Africa
3 minute(s) Read
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Egyptian supply chain for restaurants, OneOrder has recently secured a $3 million seed fundraising round headed by A15, Delivery Hero Ventures, and Nclude.


With the most recent round, the business has now secured $10.5 million in funding, including $6.5 million in working capital financing from financial institutions.


OneOrder, which was introduced in March of this year, allows restaurants to order food supplies through its online platform, addressing the problems with a fractured supply chain that result in unstable prices, waste, poor quality, and expensive storage.


Through the company’s platform, restaurants can order only what they need for next-day delivery, eliminating waste and the requirement for storage.


This eliminates the need for restaurants to manage dozens of suppliers. Through the use of OneOrder’s economies of scale, the platform also guarantees operational effectiveness and assists restaurants in making financial savings.


The business intends to utilize the funds to expand its operations in Egypt, including expanding its warehouse presence, as well as to look into other markets in Africa and the Gulf Cooperation Council (GCC).


OneOrder co-founder and CEO Tamer Amer stated that the company is looking into Saudi Arabia and going south on the continent.


He co-founded OneOrder with Karim Maurice (CTO), who also founded Cube, an online restaurant reservation service. "I believe that many markets in Africa experience the same difficulties as Egypt," he stated.


“The solution we’re offering has demonstrated that this industry is prepared for technological solutions… “And we are working on a more comprehensive operating system for the restaurants, not just the supply chain and inventory management system, but instead the full cycle that would transform their operations automatically utilizing AI and machine learning capabilities to drive the supply chain,” Amer commented, a restaurant owner for over two decades who first started in the U.S. before relocating to Egypt in 2008.


READ ALSO - Nigerian Startup VENCO Secures $670K in New Funding Round


Amer stated that the sourcing difficulties he faced while running two restaurants in Egypt Fuego, a sushi bar, and Longhord Texas Barbeque were the driving force behind the establishment of OneOrder, which will cater to the 400,000 restaurants that make up the country’s total addressable market.


To assist restaurants in expanding their businesses, OneOrder wants to start offering working capital financing solutions to them through its partners and with the support of its enormous data.


According to Basil Moftah, managing partner at Nclude, the OneOrder solution has very excellent product-market fit and is having a beneficial impact on all value chain players.


OneOrder’s integrated financing will assist underserved clients who are unable to obtain traditional funding by utilizing technology and alternative data. This is exactly in line with how we approach investing, so we are excited to start this adventure with the team.

(Source)

Dec 7, 2022
Enrich Africa
3 minute(s) Read
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