OneOrder receives $6.5 million from Contact Factoring
- Egypt-based OneOrder, a B2B e-commerce startup catering to the restaurant and hospitality sector, has signed an investment agreement worth EGP 125 million ($6.5 million) with Contact Factoring, a subsidiary of Contact Financial Holding.
- Founded by Tamer Amer, OneOrder launched earlier this year after securing $1 million in Seed funding. It helps restaurants and food businesses source fresh and packaged food products in large quantities directly from suppliers through its platform.
Contact Factoring, a Subsidiary of Contact Financial Holding a leading non-banking financial services company in Egypt, signed an agreement worth 125 million Egyptian pounds with OneOrder, an online one-stop shop that provides food supplies to hotels, restaurants and cafes.
The agreement comes as 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. Its vision to serve various sectors reflects the role and efficiency of the company's investment strategy and factoring services, one of the most prominent financing solutions that Contact adopted over the past years. This has strengthened its direct interaction with a broader client base across Egypt.
Mr. 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 on 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."
OneOrder is an Egyptian technology company that provides logistic services to restaurants through software and artificial intelligence. It was established in 2021 by entrepreneur Tamer Amer, the founder of "Fuego Sushi" and "Longhorn Texas Barbecue" restaurants in Egypt. OneOrders’ CTO, Karim Maurice, brings significant experience in the F&B sector having founded Qube, that specializes in electronic reservation services for restaurants. Soliman El Ashkar joins the OneOrder team with extensive experience from the Corporate Credit & Investment Department at the Commercial International Bank in Egypt.