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Tuesday, 15 September 2020

Delivery service RoadRunner raises six-figure seed investment

STARTUP WATCH- Delivery solutions startup RoadRunner has raised a six-figure seed investment from an unnamed individual investor, Menabytes reports, without disclosing the exact figure raised. Unlike food delivery companies that partner with restaurants for a cut of each order’s value, RoadRunner uses its own network of salaried drivers and charges restaurants a fixed fee for every delivered order. CEO Khaled Taha said the business model has “helped us reach a fairly large number of transactions in a short time and positive gross profit as well on every single order.” The Cairo-based startup operates in Cairo, Tanta and Mansoura and is looking to expand beyond restaurants and offer services to pharmacies and other businesses, as well as individual customers.

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