Orderella, the new app which allows its customers to order and pay for food and drink with their smartphone, has successfully closed its maiden funding round. It achieved £550,000 at the agreement of all investors, £50,000 above the funding target.
Targeting 1500 sites by start of World Cup
This achievement represents a key stage in Orderella’s development plan, and the funding will be used for marketing and roll-out activity with a target of 1500 sites operating the app by the FIFA World Cup in 2014.
Orderella’s success in its maiden funding round comes after an exciting two months for the app, with its UK launch taking the media by storm. It received extensive positive press coverage including the Financial Times, ITV News, BBC Radio Two, Express and Mail Online as well as receiving 1,400 downloads in its first days. Fabulous, The Sun on Sunday’s weekly supplement, described Orderella as the app they were most excited about since Instagram.
Aiming to raise £10 million for roll-out and consumer marketing
London-based Orderella was set up by five friends and business executives in August 2012, and the team plans to build on these recent achievements over the next 12 months. Talks have already begun with venture capitalists and private equity houses for Orderella’s Series A funding, which is taking place in H1, 2014, with the aim of raising £10million. These funds will then be used for continued roll-out activity, and the national consumer marketing campaign. Furthermore, Orderella will be available on Android from January 2014, broadening its customer reach.
About Orderella
Orderella is an app which allows customers to order and pay for drinks and food with their smartphone. It was the brainchild of five business executives who have a diverse background in IT, Finance, Consultancy and Legal Services, and was created in August 2012. The team has extensive experience in the field of online ordering solutions. The app aims to enhance the order process to improve the overall customer experience, as well as improve operator efficiencies.
The app was launched at the Keyworth Tavern in Nottingham on the 23rd October 2013, followed by its first London site, The Parcel Yard, on the 6th November 2013.