OneOrder in Egypt, a leading online one-stop shop for food supplies for hotels, restaurants, and cafés, has obtained a US$6.5 million working capital loan from Contact Factoring, a division of Contact Financial Holding, a major non-banking financial services provider.
OneOrder was created by prominent Egyptian restaurateur Tamer Amer, who also founded two of Egypt’s most popular restaurant chains: Fuego Sushi and Longhorn Texas BBQ.
The company aims to address the three main supply chain problems facing the country’s restaurant sector: pricing, quality, and timing.
The startup’s technology enables Egyptian restaurants to purchase all of their requirements through a single app.
“We are pleased to work with Contact, a well-known company with more than 20 years of expertise in Egypt’s financial industry. Without a doubt, this collaboration will help us produce high-quality products and finance our customers’ operating cash so they can solve their supply chain problems, added Amer.
“Today, we sign an important contract that will help OneOrder achieve its objective of assisting restaurants in solving supply chain and purchasing challenges. Businesses that share our objective of delivering high-quality services while being cost-conscious are the foundation of our collaborations. The company’s efforts to strengthen Egypt’s startup environment for tech-based businesses and to serve digital platforms are also demonstrated by this key step, according to Contact Financial Holding CEO Said Zatar.
This relationship is just one of many that contact is eager to finalize as part of its development ambition to offer a comprehensive suite of financial services.
Source: techgistafrica.com
