Nigerian-based food tech startup, Orda announced it has raised a sum of $3.4 million in seed funding after it raised $1.1 million in pre-seed funding at the beginning of this year. This makes it a total of $4.5 million raised by the African-centric food tech company.
Investors King understands that Orda is an African restaurant cloud operating system that helps restaurants to move from pen and paper to a fully automated digital platform.
According to the startup, it aims to help more African restaurants maximize their business operations and expand distribution.
The tech company added that it plans to improve on some new features which include loan, credit, and payment options which will eventually enable its clients to maximize the potential of their business.
Investors King learnt that this new round of funding was co-led by Quona Capital and FinTech Collective. Other institutional investors which participated in the seed funding include Far Out Ventures, Lofty Inc Capital, Enza Capital, and Outside VC.
In the last one year, Orda has been able to increase its customer base to more than 600 restaurants across Nigeria and Kenya while its weekly processing orders has increased by more than 500 percent.
Speaking about the growth and focus of the company, Orda’s CEO and co-founder, Guy Futi said “From day one, Orda has been focused on building solutions for small and medium-sized restaurants”.
“These businesses operate with slim profit margins and the power of Orda’s software and financial solutions can catapult their business. Our goal is to provide end-to-end solutions that help them optimize their operations so they become more prosperous”.
Founded in 2020 by Guy Futi, Fikayo Akinwale, Mark Edomwande, Kunle Ogungbamila, and Namir El-Khouri, Orda has the vision to help small-sized African restaurants optimize their business and achieve sustainable growth.
Meanwhile, the company has attributed its growth over the last 12 months to the excellent team it has put together, a trend it hopes to continue in the coming months.