Screenshot (3).png

Egypt: Ordera Food-Tech Startup Secures Six-Figure Investment

Startups

Aug. 31, 2020, 4:42 p.m.

Ordera, an Egyptian food startup for ordering meals online, has secured a six-figure investment in a seed funding round.

Even though the exact amount was not disclosed, the funding came from Alexandria Angels, Saudi-based VC Daal, and AUC Angels.

The startup says it will use the investment to grow its network of partners and its user base.

A part of the investment will also be used to expand Ordera to other cities in Egypt starting with Alexandria in September.

“We are very excited about this significant milestone in the journey of Ordera. The funding will enable the company to further grow its user and vendor base, expand to other cities and enhance their product development”, said the Chief Executive Officer(CEO) of the Ordera, Karim Abdel Kader.

Speaking on the investment, Tarek ElKady, Founder and Chairman of Alexandria Angels stated that, “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.”

Abdulrahman Alqahtani, Chief Executive Officer (CEO) of Daal also stated that, “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.”

The startup was launched in 2019 by Noha Bassiouny, Abdel Kader, and Abeer Moustafa. The platform allows users to order food online and pick them up from restaurants or cafes without going through the hassle of waiting in long queues.

Users can pay for their meals via the app and gain loyalty points for orders made through the app, which can be redeemed from Ordera’s food and beverage (F&B) partners.

Ordera charges these restaurants and cafe partners a commission after every successful order.

The startup also says it has recorded an increase in the orders, users as well as restaurant and cafe partners as a result of the pandemic

Currently, it has signed partnerships with over 150 F&B partners including Burger King, Dunkin, Ted’s, 30 North, and Caribous.

Do you have an article that can be relevant to the African Tech space?

Submit your news stories, articles or press releases to editor@digitaltimes.africa


Or

tag: Africa, startups, Egypt,

Dorcas

Dorcas Benewaa Author

Dorcas is an upcoming journalist. She loves the creative arts and loves to write about startups, digital arts and issues in the tech sector.

ADVERTISEMENT