Egypt's Road Runner raises six-figure seed funding
Cairo, Egypt-based logistics startup Road Runner, on Monday (14 September 2020) raised a six-figure seed investment from several angel investors. Neither of the funding amount nor the names of the investors has been disclosed by the company yet.
Founded in 2019 by ex-Delivery Hero, Khaled Taha and Ahmed Radi, Road Runner offers a quick on-demand delivery service to businesses, primarily restaurants across Cairo, Tanta, and Mansoura.
The company says that its model is different then from conventional food delivery players or foodtech startups, as it acts as an on-demand delivery partner for restaurants and other businesses that don't want to pay the high cut to food delivery aggregators but also don't have or don't want to use their own fleet (as managing it could sometimes be even more expensive). The Cairo-headquartered startup works with restaurants using its network of salaried drivers and charges them a fixed fee for every delivered order.
Speaking of Road Runner’s unique proposition, the company in a statement said,
“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. 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,”
Speaking to MENAbytes, Khaled Taha, the founder & CEO of RoadRunner, said,
“Most of the startups are only interested in volumes. We, as a business, however, from day one, have been focused not only on that but on the profitability of these transactions as well. It has helped us reach a fairly large number of transactions in a short time and positive gross profit as well on every single order. Our model offers vendors a reliable on-demand delivery model which helps them cut their costs without having an in-house fleet,”
RoadRunner claims that it currently works with over 70 restaurants including TBS, Mahraja, and Pasta 2go. It is also in the process of partnering with pharmacies and some other businesses.
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