Good news for Ordera, the Cairo-based startup that allows users to order food online and then pick it up from restaurants and cafes. The startup has secured six-figure (USD) investment in a seed funding round. The exact size of this investment was however, not disclosed.
“We are very excited about this significant milestone in the journey of Ordera” said Karim Abdel Kader, CEO at Ordera
Here Is What You Need To Know
- The latest investment in Ordera came from Alexandria Angels, Saudi-based VC Daal, and AUC Angels.
- The startup will use the funding to further grow its user base and network of partners, according CEO, Abdel Kader.
- Ordera said that it has signed partnerships with market leaders in the industry and has closed deals with over 150 F&B partners to date. Some of the partners listed on its website include Burger King, Dunkin, Ted’s, 30 North, and Caribous.
- A part of investment will also be used to expand to other cities of Egypt starting with Alexandria in September, he added.
Why The Investors Invested
According to Tarek ElKady, Founder & Chairman of Alexandria Angels, the investment was made into Ordera because “Ordera is revolutionizing the food takeout industry. They have a great product that is needed by customers [and is] backed by a passionate & dedicated team. Their business continues to grow and expand rapidly and firmly, and we’re proud to have them among our portfolio companies.”
“The condition of F&B and retail markets have changed dramatically after Covid-19. Innovative startups are those who see the opportunity and provide real solutions for business. This is how we valued the opportunity in Ordera. Technology, sustainable business model, and scalability potentials are the factors that drove our attention. With the right and ambitious team in place, we highly believe in the success story that we can build together,” Abdulrahman Alqahtani, CEO of Daal, said.
Read also: Why More South African Startups Have Raised Funds This Year
A Look At What The Startup Does
Founded by Karim Abdel Kader, Noha Bassiouny, and Abeer Mostafa, Ordera was launched last year to make it easy for users to order and then pick-up their food from the restaurants and cafes (takeaway and drive-thru) in Egypt without having to wait in any queue. The app also allows users to pay for their orders so when they’re at the restaurant, all they have to do is just pick-up the order. Ordera’s app rewards users with loyalty points for orders made through it that they can then redeem at some of its F&B partners.
The startup in a statement said that it has been witnessing an exponential growth (apparently after the start of pandemic) in the number of restaurants and cafes joining it as partners (to offer contactless pick-up and drive-thru experience).
The Egyptian startup makes its money by charging commission on successful orders from restaurants (and cafe partners) listed on its platform.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer