OneOrder, an online one-stop shop that delivers food supplies to hotels, restaurants, and cafés, has inked a contract worth 125 million Egyptian pounds with Contact Factoring, a subsidiary of Contact Financial Holding, a leading non-banking financial services company in Egypt.
“We are glad to cooperate with Contact, a leading name in Egypt’s financing sector with more than 20 years of experience. This cooperation will undoubtedly enable us to deliver high-quality products and help finance our customers’ working capital to overcome their supply chain issues. In OneOrder, we are well aware of the gaps in the HORECA supply chain, not only in Egypt but across the MENA region. We look forward to filling this gap and expanding our solutions and geographic reach through this partnership, allowing us to realize our vision towards creating a powerful digital environment that encourages restaurant owners to procure online, which is currently the biggest challenge we face,” Tamer Amer, CEO of OneOrder, said.
Why Contact Factoring Made The Investment
The agreement is one of several that Contact is eager to form as part of its expansion strategy, which aims to provide a wide range of integrated financial solutions. The company’s investment strategy and factoring services, one of the most well-known financing choices that Contact has chosen over the years, are critical to the company’s goal of serving a wide range of industries. This has boosted its ability to directly communicate with a bigger clientele across Egypt.
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“[This] significant agreement…supports OneOrder, enabling them to reach their goal of supporting restaurants in overcoming supply chain and purchasing obstacles. We build our partnerships on businesses that share our vision of providing high-quality services with cost consciousness. Additionally, this is an important step in serving digital platforms and a testament to the company’s efforts towards empowering the entrepreneurship and tech-based startup ecosystem in Egypt,” Said Zatar, CEO of Contact Financial Holding, said.
A Look At What OneOrder Does
Tamer Amer founded OneOrder, which began earlier this year after receiving $1 million in seed capital. It delivers restaurant logistics services using software and artificial intelligence. Tamer Amer, the founder of Egypt’s “Fuego Sushi” and “Longhorn Texas Barbecue” restaurants, founded it in 2021. Karim Maurice, OneOrders’ CTO, has extensive experience in the food and beverage industry, having developed Qube, which specialises in electronic restaurant reservation systems. Soliman El Ashkar joins the OneOrder team with substantial experience from Egypt’s Commercial International Bank’s Corporate Credit & Investment Department.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh