Orda, a Nigerian company that develops cloud operating systems for restaurants, has raised US$3.4 million in a seed round to further digitalize the food industry in Africa.
Quona Capital and FinTech Collective co-led the seed round, which also included institutional investors Far Out Ventures and Outside VC, angel investors Doneci Kone and Julian Shapiro, and follow-on investments from the Norrsken Foundation, LoftyInc Capital, and Enza Capital.
Guy Futi, Fikayo Akinwale, Mark Edomwande, Kunle Ogungbamila, and Namir El-Khouri founded Orda in 2020 with the goal of assisting small-scale African restaurants in growing sustainably.
“Orda has concentrated on developing solutions for small and medium-sized restaurants from the company’s inception. The strength of Orda’s financial solutions and software helps propel these companies’ businesses despite their low-profit margins. Our objective is to offer comprehensive solutions that enable customers to streamline their business processes and increase their prosperity, according to Futi.
Orda plans to use the funds it raised to grow vertically and offer better payment, credit, and lending options to its customers so they can help them gain access to more of their company’s hidden value.
After making strides over the previous 12 months, Orda now believes that it has achieved product-market fit, as shown by the rising referrals, rapid adoption rate, and ease of onboarding new restaurants.
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