When food business owners across the country attempt to reconcile all of their transactions after the day’s business, they use paper and pen, spend hours, and are exposed to discrepancies or losses.
Orda is a company that wants to solve this problem as well as most of the pain points of chefs, caterers, boukas, and restaurants. Orda realized that these food companies are not integrated with local payment solutions, do not have enough online sales channels and do not have access to adequate logistics providers, which has made their operations difficult. .
So, he created a cloud-based solution that integrates local payments, logistics companies, inventory management, and business analytics for small and medium food businesses, to make it easier for these businesses to scale.
Orda recently announced that it has raised a $1.1 million pre-seed funding round to expand its operations to more African countries. The company says it is the only solution on the continent that allows restaurateurs to manage every aspect of their business from a single platform and is being used by restaurants in Nigeria and Kenya.
Its recent round was led by early-stage venture capital fund, LoftyInc Capital, with participation from Techstars Boulder, Magic Fund, Hustle Fund, Norrsken Foundation, Microtraction, DFS Labs, Oxford Seed Fund, Enza Capital, Agrolay Advisors; and angel investors like Ire Aderinokun, Jesse Ovia and Ademola Adesina.
Speaking on the raise, Idris Ayodeji Bello, Managing Partner of LoftyInc Capital, said: “We loved investing in Orda as it is building the backbone digital infrastructure for restaurants across Africa. The team has worked hard to determine the fundamental issues facing African restaurant owners and are developing a solution that can revolutionize the food sector across the continent. LoftyInc is thrilled to support a solution-focused team like Orda.
Orda is founded by Guy Futi (CEO), Adinlewa “Fikayo” Akinwale (CTO), Mark Edomwande, Kunle Ogungbamila and Namir El-Khouri, and enables restaurants to accept and process all their content in store, website, networks social, Whatsapp, Jumia Food, Glovo and Bolt food orders from an easy to use interface.
Futi, a former managing director of Jumia, said that at the heart of Orda’s business are its ePos which allow these food companies to operate in areas with little or no internet coverage. “Orda was built from 18 months of a collaborative customer feedback loop. We listened to everything from how African restaurants reconcile inventory, how customers pay, how they manage logistics and more. We can confidently say that no one has done as much work as we have to create an end-to-end solution for our food business owners. We are excited to usher in the much-needed digitization of the industry,” said Akinwale, in a statement.
Orda has, over the past 18 months, spoken with customers, built and iterated on its products, and is currently processing thousands of transactions each week, it said in a statement.
Futi explained that while they’re just getting started, they’re already achieving 10% to 15% gross domestic value (GMV) per week and increased restaurant adoption.
Futi, who has been in the food business in Africa for over 5 years, said that while there are millions of chefs, caterers and boukas on the continent, no one currently provides the solution offered by Orda, which makes the opportunity huge.