OneOrder, the new logistics company solving Egyptian restaurants’ supply chain inefficiencies, announces its launch and successful completion of a $1 million fundraise.
The fundraise was led by A15, the leading MENA venture capital firm, and renowned as one of the most prominent backers of early-stage start-ups in the region.
OneOrder is the first company of its kind in Egypt; a logistics company addressing the major inefficiencies faced by Egypt’s restaurants when sourcing supplies. It is the creation of leading Egyptian restaurateur Tamer Amer, the founder of Fuego Sushi and Longhorn Texas BBQ – two of Egypt’s most successful restaurant chains.
OneOrder is creating a platform to address the significant structural problem faced by Egyptian restaurants – interacting on a regular basis with several small, fragmented suppliers and vendors from whom they source their meat, vegetables and equipment.
This suboptimal supply chain structure causes inconsistent and non-transparent pricing, unreliable quality which, in turn, gets passed onto restaurant customers, and irregular delivery timing, with supplies often late, limiting restaurants’ daily menu offerings.
OneOrder’s platform means Egyptian restaurants can buy all their needs from one application, with reliable quality, prices and timing.
Tamer Amer, founder and CEO of OneOrder, said: “We are delighted to announce our launch and fundraise, and I thank A15 for their outstanding support. Given Egypt’s flourishing restaurant industry and the challenges it faces caused by a fragmented supply chain, OneOrder offers a much-needed technology-enabled solution at the perfect time. My experience in the food and beverage industry means I know what restaurant owners need; it is a reliable, timely supply of quality goods, at a consistent price – without the stress of managing various suppliers daily.
“We believe restaurants should be focussed on delivering a high-quality experience and service to their customers without having to worry about sourcing and procurement. We are the platform to deliver that. I’m very excited about the future as our market opportunity is huge. Egypt and the wider region are booming economically, and the food & beverage sector is only growing larger.”
Karim Beshara, General Partner at A15, said: “We are excited to partner with Tamer to solve one of the main challenges the Food & Beverages industry faces in the MENA region. By leveraging Tamer’s extensive experience as a successful restauranteur and A15’s history of building scalable technology platforms, we will aim to provide restaurants in the region with reliable, convenient and timely supplies that are consistently priced.”
OneOrder’s market opportunity is significant. Egypt has c. 45,000 registered restaurants, but as many as a quarter of a million unregistered – all working and consuming supplies. In 2019, the United States Department of Agriculture estimated the overall Food & Beverages (“F&B”) / Hospitality market in Egypt to be $13 billion, with OneOrder expecting that figure to have increased substantially since then.
Market drivers are also compelling. The latest research by Fitch Ratings, the global ratings agency, forecasts 5.3% GDP growth in Egypt for 2021-2023, driven by strong private consumption and increasing tourism. Egypt is also building new cities such as New Alamein, with hotels and commerce expanding across the country – all of which is favourable for the F&B sector.
There are similar restaurant supply chain inefficiencies in other countries in MENA and OneOrder aspires to, over time, expand its proposition geographically across the region.
Alongside Mr. Amer, OneOrder’s management team has an excellent track record in the F&B sector. It includes Karim Maurice as co-founder and Chief Technology Officer. Mr. Maurice founded Cube – Egypt’s equivalent of OpenTable, the global online restaurant-reservation service, as well as Bitroot, a “CTO-as-a-Service” for early-stage ventures.
Joining OneOrder’s Board is Moataz Abdelrahman, who is currently serving as Coca-Cola General Manager for Egypt, Libya and Sudan. He comes with a diversified career path working in over 17 markets with 200 million consumers across different departments marketing, business development and operations.
Also joining as non-executive Chairman of the board is private equity veteran Karim Hassan, currently the CEO of Ankh. Karim brings 20 years of investment & operational experience in the US, Europe and the Middle East.