Egyptian B2B e-Commerce Startup OneOrder Secures $6.5 Million
OneOrder is an Egypt-based B2B e-commerce startup catering to the restaurant and hospitality sector. OneOrder helps restaurants and food businesses source fresh and packaged food products in large quantities directly from suppliers through its platform.
OneOrder secures a $6.5 Million investment with Contact Factoring, a subsidiary of Contact Financial Holding.
The B2B e-commerce startup was founded by Tamer Amer earlier this year and launched after securing $1 million in Seed funding.
The investment agreement between OneOrder and Contact Factoring 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 during the OneOrder funding announcement:
“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 said,
“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.”
Elloe Acquires Flo by Saada, A Kenyan Social Commerce Startup
Conversational e-commerce startup, Elloe acquires Flo by Saada, a Kenyan social commerce startup founded by Gerishon Mwaniki, for an undisclosed fee.
The newly acquired social commerce startup enables SMEs to build conversational commerce solutions and process payments via USSD, voice, WhatsApp Business, and programmable SMS.
Flo by Saada founder said in a press release:
“Flo by Saada was built with a mission to help businesses respond to the increasing use of instant messaging as the most preferred mode of communication, both for connecting with family and friends and for receiving immediate, personal, and attentive experiences from brands.
We are excited to be joining the Elloe team. Combining our market-leading technologies presents an opportunity to create new, amazing customer experiences.”
Flo by Saada’s client list includes Telkom Kenya, Quick Bus, Oxfam, and other companies in the retail, entertainment, hospitality, and travel industries.
Flo by Saada’s team will join Elloe’s product and engineering group based in Kenya as Elloe incorporates the technology to complement its existing portfolio of messaging services with a packaged, AI-driven offering.
Speaking on the acquisition, Elloe’s CEO and founder Owen Sakawa told TechCabal via mail:
“ Elloe has always prioritised social commerce, and we are excited to expand our capabilities by forming meaningful partnerships with Flo by Saada. By connecting enterprises and consumers on a global scale, we will be able to combine the capabilities of Elloe and Flo by Saada.”
He added that
“ Elloe’s investments in this category are critical to Flo by Saada’s ability to stay at the forefront of providing brands with the most innovative ways to connect with fans and consumers worldwide. Our goal with this collaboration is to become the go-to partner for brands and consumers alike, as well as to establish ourselves as leaders in the rapidly evolving social commerce space, which will only grow in popularity. Our one-of-a-kind platform, a conversational AI infrastructure, enables customers to introduce chatbots successfully and solve problems at scale.”
This acquisition follows a wave of the recent significant partnerships, acquisitions, and mergers in the African tech ecosystem.
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