Orderella, a new app which allows its customers to order and pay for food and drink with their smartphone, has closed its maiden funding round with a result of £550,000 – £50,000 above the funding target, which was over-subscribed with investors.
A key stage in Orderella’s development plan, the funding will be used for marketing and roll-out activity with a target of 1,500 sites operating the app by the FIFA World Cup in 2014.
London-based Orderella was set up by five friends and business executives in August 2012 and talks have already begun with venture capitalists and private equity houses for Orderella’s Series A funding, which is taking place in the first half 2014, with the aim of raising £10m.
The additional funds will be used for continued roll-out activity and a national consumer marketing campaign. Orderella will also be available on Android from January 2014, broadening its customer reach.
Dennis Collet, chief executive officer of Orderella, said: “We were blown away by the success of our first funding round, achieving £50,000 more than our target and becoming oversubscribed with investors. This funding will prove invaluable as we look to grow into many more venues in the UK and internationally, and further increase awareness of Orderella among customers and operators.”