Iraq’s First ‘marketplace app’ Lezzoo Raises Seven-figure Seed Round
Lezzoo, the Iraqi startup for delivery and payment on-demand, is geared to become the troubled nation’s first super app, following graduation from Y Combinator’s S19 batch.
The Erbil-based startup has raised seven-figure USD, to be the most substantial investment ever in the Iraqi startup ecosystem, according to MENA Bytes.
The round was led by Northern Gulf Partners and Pay It Forward Venture Capital, with angel investors within the US also involved in the series.
Founded by Yadgar Merani, Ala Battal, and Rekar Botany in 2018. Lezzoo is a three-sided marketplace, designed to provide grocery, food, pharmaceuticals (medicine and such) delivery, as well as peer to peer shipping. It even boasts an on-demand laundry service.
Operates in several cities across Northern Iraq, the company has got a boost in its infrastructure and operations due to COVID-19 as it became a most-wanted service for the majority of customers.
Lezzoo plans to use the fund to expand to more cities in Iraq, as well as diversify its offerings to allow customers to sell peer to peer items.
The Erbil-based startup has also launched a mobile payment service called “Lezzoo Pay”, this gives users the ability to pay for online services across Iraq through several types of pre-paid cards.
Iraq is yet to come on board the digital payment wagon and remains a cash-reliant nation.