Cairo: Contact Factoring, a Subsidiary of Contact Financial Holding a leading non-banking financial services company in Egypt, signed an agreement worth 125 million Egyptian pounds with OneOrder, an online one-stop shop that provides food supplies to hotels, restaurants and cafes.

The agreement comes as part of a series of partnerships that Contact is keen to complete within the framework of its expansion plan, which aims to provide a wide range of integrated financial solutions. Its vision to serve various sectors reflects the role and efficiency of the company's investment strategy and factoring services, one of the most prominent financing solutions that Contact adopted over the past years. This has strengthened its direct interaction with a broader client base across Egypt.

Mr. Said Zatar, CEO of Contact Financial Holding, said: "Today we sign a significant agreement that supports OneOrder, enabling them to reach their goal of supporting restaurants in overcoming supply chain and purchasing obstacles. We build our partnerships on businesses that share our vision of providing high-quality services with cost consciousness. Additionally, this is an important step in serving digital platforms and a testament to the company's efforts towards empowering the entrepreneurship and tech-based startup ecosystem in Egypt."

Tamer Amer, CEO of OneOrder, commented: "We are glad to cooperate with Contact, a leading name in Egypt's financing sector with more than 20 years of experience. This cooperation will undoubtedly enable us to deliver high-quality products that will help our F&B customers overcome the problems they face with their supply chain process."

Amer added, "In OneOrder, we are well aware of the gaps in the HORECA supply chain, not only in Egypt but across the MENA region. We look forward to filling this gap and expanding our solutions and geographic reach through this partnership, allowing us to realize our vision towards creating a powerful digital environment that encourages restaurant owners to procure online, which is currently the biggest challenge we face."

OneOrder is an Egyptian technology company that provides logistic services to restaurants through software and artificial intelligence. It established in 2021 by entrepreneur Tamer Amer, the founder of "Fuego Sushi" and "Longhorn Texas Barbecue" restaurants in Egypt. OneOrders’ CTO, Karim Maurice, brings significant experience in the F&B sector having founded Qube, that specializes in electronic reservation services for restaurants. Soliman El Ashkar joins the OneOrder team with extensive experience from the Corporate Credit & Investment Department at the Commercial International Bank in Egypt.

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About Contact

Contact Financial Holding (Egyptian stock code CNFN.CA) is a leading group in providing non-bank financial solutions and services, managing a group of companies that provides a full range of financing and insurance products and services. Contact adopts an innovative approach to ensure the provision of its services of the highest quality in the fields of finance and insurance, with the easiest process to reach a wide segment of the market.

Through Contact Credit, Contact offers various financing programs to finance the purchase of new and used cars and vehicles, durable goods financing programs, in addition to the home finance and finishing programs through Contact Mortgage and trade finance programs through its sister companies Contact Leasing and Contact Factoring. Contact also provides insurance services through Sarwa Insurance and Sarwa Life Insurance. The company is also the first and largest issuer of securitization bonds in various fields in the Egyptian market. Contact Financial Holding Company LLC. is licensed and regulated by the Financial Regulatory Authority.