OneOrder, an Egyptian B2B marketplace that connects restaurants to suppliers, announced that it has raised $3 million in a seed round led by Nclude and returning investor, A15. Other participants in the round include Delivery Hero Ventures, a fund backed by global food delivery giant Delivery Hero. Based on Delivery Ventures investment, Brendon Blacker joins the OneOrder board
Considering an initial $1 million pre-seed raised in February 2022 and $6.5 million in working capital financing secured in August 2022, this startup has so far, raised $10.5 million to date.
Launched in Egypt in 2021 by co-founders Tamer Amer and Karim Maurice, OneOrder is an online B2B platform that facilitates order processing and communication between restaurants and suppliers. The startup is using technology to solve the the fragmented supply chain challenges such as lack of product availability, price fluctuations, product consistency, on time and accurate delivery and a lack of working capital financing.
OneOrder says it intends to use the newly raised funds to support its operations and tech talent, increase its salesforce to grow its market share and invest in its proprietary technology. It will also scale its offline presence and expand its warehouse footprint across Egypt and the MENA region.
“We are exploring Saudi Arabia and expanding south into our continent. I think Africa has a lot of markets that feel the same pain points that Egypt does,” said OneOrder CEO, Tamer Amer.
Speaking on the round, Tamer Amer stated, ‘As a restauranteur myself, I have witnessed first hand the avoidable overheads and hassles HoReCa businesses go through in serving their customers. We are delighted by the level of adoption and growth we have recorded over the past year which is testament to the fact that we are addressing a huge unmet demand in our region. Asides improving efficiency, we are reducing costs and impacting restaurants’ bottom lines – saving them time through operational efficiency and money through improved purchasing power and economies of scale. Joined by prominent global investors with deep knowledge and extensive expertise in our sector, we look forward to our next phase of rapid growth.’
Basil Moftah, Managing Partner at Nclude added, ‘We have been impressed by OneOrder’s remarkable progress, driven by the unparalleled market expertise of Tamer, Karim and the entire team. The product-market fit of the OneOder solution is very impressive, along with the positive impact it is delivering to all stakeholders in the value chain. Through the use of technology and alternative data, OneOrder’s embedded financing will help underserved clients who are unable to secure traditional financing. This aligns perfectly with our investing philosophy and we are glad to be embarking on this journey with the team.’
