Nigerian Startup Digitising African Restaurants, Orda, Raises $3.4M Seed Funding

The Nigerian digitized restaurant platform, Orda, has secured $3.4 million in a seed round co-led by Quona Capital and FinTech Collective, a New York-based fintech company. With the $1.1 million in pre-seed funding the company received in early 2022, it has received a total of $4.5 million.

The company, launched in 2020 by Guy Futi, Fikayo Akinwale, Mark Edomwande, Kunle Ogungbamila, and Namir El-Khouri, was founded to help small African restaurants improve their businesses. The platform allows restaurants to easily manage their orders and sales with little or no internet access.

Guy Futi, the chief executive officer (CEO), said, “Our goal is to provide end-to-end solutions that help them optimise their operations so they become more prosperous.” With this objective, the company intends to enhance its services to support more African restaurants in improving their operations and extending their distribution.

Futi said, “We take an interesting approach to software and helping restaurant owners set up. Our software digitises the process of those who write things in hand and helps them figure out their inventory management and recipe yields.”

This way, it helps restaurants improve their business value. In the bid to scale, the online food platform has added features such as loan, credit, and payment options. With time, the company plans to extend its operation into other African countries, such as South Africa and the Ivory Coast.

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Investors that participated in the seed round

Apart from the New York-based fintech company, Fintech Collective and Quona Capital investors such as Outside VC, Far Out Ventures, angels Doneci Kone and Julian Shapiro, Norrsken Foundation, Lofty Inc Capital and Enza Capital also took part in the seed round process.

On why Quona Capital supports the Nigerian digitised African restaurants, Orda, Kofoworola Agbaje, the senior investment associate at Quona Capital, said, “When a restaurant owner moves from pen and paper to a fully automated digital platform, it’s incredibly empowering.”

With this mindset, she believes that the solution Orda offers could help change the narrative of small and medium-sized restaurant businesses.

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