Finance

Nigerian restaurant management platform Orda raises $1.1mln to support its expansion

Wednesday, 19 January 2022 15:31
Nigerian restaurant management platform Orda raises $1.1mln to support its expansion

(Ecofin Agency) - The Nigerian restaurant management platform Orda announced yesterday it has raised $1.1 million in pre-seed funding to support its business. The fundraising was led by LoftyInc Capital and backed by a group of institutional and angel investors.

“We loved investing in Orda because it is building the core digital infrastructure for restaurants across Africa. The team has done the hard work of figuring out the core problems that African restaurant owners are facing and is building a solution that can revolutionize the food business across the continent,” said Idris Ayo Bello, Partner at LoftyInc Capital.

Orda focuses on local and small restaurants that run their business using manual ways. “These are the restaurants that have been using paper and pen and spend three to four hours on reconciliation. They don’t have access to software that does analytics and inventory management right off the gate. So, we decided to build a cloud-based restaurant software tailor-made for Africa’s massive chefs and restaurant industry,” Orda co-founder and CEO Guy Futi explained in an interview with TechCrunch. He said few restaurants in Africa use technology for their inventory management, delivery, and payment processes.

With the new resources it has raised, Orda plans to expand in South Africa by the end of 2022. The startup has a presence in Nigeria and Kenya where it says it processes "thousands" of weekly transactions from its platform.

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