Cairo-Based Food Delivery Startup RoadRunner Raises Six-Figure Seed Investment
The up-and-coming startup has already staked its claim as a viable player in the food delivery industry by veering away from the conventional steep cuts and fees set by other companies.
Launched in 2019, on the brink of the delivery and logistics apps zeitgeist, Cairo-based RoadRunner has raised a six-figure seed investment from an undisclosed individual investor, according to MENAbytes.
The on-demand delivery solution startup has helped democratise the industry in Egypt, which has become notorious for the steep charges that restaurants pay major food delivery services. The startup’s model varies from run-of-the-mill logistics apps by taking up the role of partner that helps restaurants leverage RoadRunner’s fleet at lower costs, with a fixed fee per each order delivered.
“We help the vendors replace their fleet with our highly trained network of Runners so they don’t have to pay a monthly salary or hire an operations team to manage the delivery of orders,” the startup elaborates. “They can use our app or web portal to request a rider as soon as they receive an order and have him deliver the food.”
In search for an edge that sets RoadRunner apart from other major players in the market, Khaled Taha, founder and CEO, attributes the startup’s success in focusing less on volume, and more on profitability of each transaction. In establishing a fixed fee system, according to Taha, bolsters gross profit on, both, a short and long term basis.
RoadRunner currently houses over 70 restaurants on its app, with plans to pivot to including pharmacies and other essential services in the long run. Co-founder and CMO Ahmad Radi also announced that the startup will soon include an on-demand courier service for individuals, with plans to raise a larger sum of funds that will be dedicated to expanding in the region.
