Iraqi Delivery and E-Payment Startup Lezzoo Raises Seven-Figure Investment
The startup is championing a new dawn of financial inclusion, as well as introducing Iraq’s first super app.
Lezzoo, an Iraqi food and essentials delivery platform, has raised a seven-figure (USD) investment led by Iraq-based investment firm Northern Gulf Partners and California-based venture capital firm Pay It Forward.
Lezzoo had previously received a pre-seed investment from the Silicon Valley’s influential Y Combinator, and achieved the milestone of becoming the only Iraqi startup to take part in the accelerator’s esteemed programme. The emerging startup is vying to become one of the country’s first super apps, a holistic platform that’s a go-to for ordering food, groceries and pharmaceuticals. In H1 2020, the delivery and transport sector saw the largest increase in share of deals in MENA, up 4% from H1 2019.
In addition to being a delivery service, the startup also recently launched Lezzoo Pay, an e-payment solution that aims to divert Iraq’s dependence on cash-based transactions. The feature can spearhead a new dawn of financial inclusion to Iraq’s population, who are predominantly unbanked.
"We are using technology to solve the biggest logistical challenges in people's daily lives. This investment will allow us to expand across the country while also rolling out new verticals,” explains Lezzoo founder and CEO Yadgar Merani. “By integrating deliveries, transportation, payments and other services we are on our way to becoming the super app for Iraqis."
