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Egypt’s OneOrder, an online one-stop shop that provides food supplies to hotels, restaurants and cafes, has secured a $6.5 million working capital facility from Contact Factoring, a subsidiary of Contact Financial Holding, a leading non-banking financial services company. Founded by leading Egyptian restaurateur Tamer Amer – the founder of Fuego Sushi and Longhorn Texas BBQ, two of Egypt’s most successful restaurant chains – OneOrder aims to tackle Egypt’s restaurant industry’s main supply chain issues – pricing, quality and timing. The startup’s platform allows Egyptian restaurants to buy all their needs from one application. There are similar restaurant supply chain inefficiencies in other countries in MENA and OneOrder aspires to, over time, expand its proposition geographically across the region. OneOrder announced its launch and the successful completion of a $1 million fundraise back in February, and it has now secured a working capital facility from Contact. The deal is part of a series of partnerships that Contact is keen to complete within the framework of its expansion plan, which aims to provide a wide range of integrated financial solutions.

SOURCE: DISRUPT AFRICA

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