-KH News Desk
OneOrder, a one-stop online shop that sells food supplies to hotels, restaurants, and cafés, and a subsidiary of Contact Financial Holding, has inked a deal worth $6.5 million with contact Factoring, a prominent provider of non-banking financial services in Egypt. OneOrder also raised $1 million in its last funding round in February, led by venture capital A15.
The arrangement is one of several alliances that Contact is eager to establish as part of its development strategy, which intends to offer a broad variety of integrated financial solutions. The company’s investment strategy and factoring services, one of the most well-known financing options that Contact has chosen throughout the years, play an important part in the company’s aim to serve a variety of industries. This has improved its ability to communicate directly with a more extensive clientele throughout Egypt.
Said Zatar, CEO of Contact Financial Holding, said: “Today we sign a significant agreement that supports OneOrder, enabling them to reach their goal of supporting restaurants in overcoming supply chain and purchasing obstacles. We build our partnerships with 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.”
Tamer Amer, CEO of OneOrder, commented: “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.”
Amer added: “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.” reported Mohamed Alaa El-Din from Daily News Egypt.
Key Details
The CEO of OneOrder, Tamer Amer, is also the creator of the restaurant brands Fuego Sushi and Longhorn Texas BBQ. OneOrder is a technologically advanced restaurant supplier that offers the Egyptian food and beverage sector the chance to purchase all of their goods from one location using an app and web-based platform.
The startup platform seeks to address the structural issue that Egyptian restaurants face when sourcing their meat, vegetables, and equipment from a variety of small, fragmented suppliers and vendors. This can result in inconsistent and ambiguous pricing, unreliable quality, and erratic delivery schedules, with supplies frequently arriving late and limiting restaurants’ daily menu options.
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