Nigerian restaurant management company Orda has raised US$1.1 million in pre-seed financing to accelerate its growth.
Orda was launched in 2020. It is a cloud-based provider of restaurant management systems. The Lagos-based startup has collaborated with many well-known African and international restaurants, including Johnny Rockets, Eric Kayser and Ofadaboy.
Lofty Inc Capital Management led the US$1.1 million preseed round. Other participants included Techstars – Boulder, Magic Fund and Hustle Fund, Norrsken Foundation and Norrsken Foundation. Enza Capital, Enza Capital, Agrolay Advisors and Ire Aderinokun.
The startup plans to expand its reach across Europe and increase its growth rate following the raise.
Orda developed a full-stack solution to integrate local payments, logistic businesses, while also building inventory management and business analytics for small- to medium-sized food companies. It claims it is the only technology solution that allows restaurants on the continent to accept and process all of their orders online, in-store, via social media, WhatsApp and Jumia Food, Glovo, Bolt Food and other channels.
Cloud-based solutions from the startup are currently available for restaurants in Nigeria, Kenya and other African countries. Orda processes thousands of weekly transactions and has seen a significant increase in Gross Merchandise Valu (GMV).
Guy Futi, CEO of the startup, spoke about the inspiration behind the technology. He said that the team has been trying to solve the real problems faced by chefs, caterers, and small restaurants.
“From that Orda grew. Orda was born before the internet. Small food business owners could spend up to 4 hours per day reconciling transactions and trying to recover losses. That burden was something we sought to reduce. We discovered that many food business owners weren’t fully connected with online sales channels, local payment solutions, and logistic providers. He said that this made their operations more complicated.”
“Orda was created from nearly 18 months of customer feedback. We listened to everything from how African restaurants reconcile their inventory to how customers pay to how they handle logistics. We are confident that we can say without hesitation that no one has done more work than us to create an end-to–end solution for our food-business owners. Fikayo Akinwale, CTO, said that the sector needs much-needed digitization.
LoftyInc Capital Management managing partner Idris Bello stated that his team invested in Orda as it was creating the digital infrastructure needed for African restaurants.
“The team has worked hard to identify the main problems African restaurant owners face and is now working on a solution that will revolutionize the African food industry. LoftyInc is thrilled to support a solution-oriented team like Orda,” said he.