Investor Updates: February 25 2022 - Egyptian logistics startup OneOrder launches with $1m funding
2 min Read February 25, 2022 at 7:43 AM UTC
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Egyptian logistics startup OneOrder launches with $1m funding
Highlights
- OneOrder, a new logistics company looking to solve Egyptian restaurants’ supply chain inefficiencies, has announced its launch and the successful completion of a $1 million fundraise led by A15, a leading Middle East and North Africa (MENA) venture capital firm.
- Founded by Tamer Amer, OneOrder aims to tackle Egypt’s restaurant industry’s main supply chain issues such as pricing, quality, and timing. The startup’s platform allows restaurants to buy all their needs from one application.
- 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.
Source: Disrupt Africa
Our Takeaway
Given the challenges Egypt’s growing restaurant industry faces due to a fragmented supply chain, many startups have emerged launching technology-enabled solutions to help restaurants manage sourcing and procurement while they focus on delivering a high-quality experience and service to their customers. For these startups, the market opportunity in Egypt and the MENA region is huge as the economy grows rapidly.
SA startup Bitvice launches bitcoin investment platform
Highlights
- South African startup Bitvice has launched to allow investors to buy bitcoin securely and immediately receive it to their own wallet.
- Founded last year, Bitvice is a bitcoin-only platform that allows investors to make simple secure orders, with automatic weekly, bi-monthly or monthly orders soon to be possible via an automatic Sats Stacker product.
- Bitvice offers self-custodial solutions for investors and entities and provides experienced consultations on how to set up secure self-custodial wallets, based on investors’ risk appetites and requirements. It also works with financial advisors in allocating bitcoin to their client’s portfolios.
Source: Disrupt Africa
Our Takeaway
Across Africa, the use of cryptocurrencies has been on the rise over the past few years. For Africans, digital currencies offer a swift, convenient, and direct peer-to-peer channel for remittance payments, international commerce, savings, and investments. Although the region captures only 2% of the global value of all cryptocurrencies received and sent, the potential for bitcoin in Africa is particularly good, with Nigeria being the world’s second-largest bitcoin market after the USA.
Naspers Foundry invests $1m in SA wage access startup Floatpays
Highlights
- South African fintech startup Floatpays, an on-demand earned wage access platform that helps customers build financial wellness, secured $1 million in funding from Naspers Foundry.
- The investment is part of the $4 million round FloatPays announced last month in an oversubscribed seed funding round to help it expand across Africa.
- Naspers is one of the largest technology investors in the world and launched its $96 million Foundry fund in October 2018.
Source: Venture Burn
Our Takeaway
Naspers Foundry is one of Africa’s most notable corporate venture capital units. The investment in Floatpays marks its third fintech investment and its ninth transaction since its launch, with its portfolio including the likes of SweepSouth, Aerobotics, Food Supply Network, The Student Hub, WhereIsMyTransport, Ctrl, and Naked Insurance.
This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Articles do not reflect the views of DABA ADVISORS LLC and do not provide investment advice to Daba’s clients. Daba is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.
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