Why is Chowdeck making a big splash in POS software?
The startup has purchased Mira, a restaurant-based POS and management system.
According to the CEO of Chowdeck, Femi Aluko, the deal was meant to address the inventory issues of vendors.
Mira is a QR menu with inventory tracking, sales tracking, and hardware POS systems launched in 2021 by Ted Oladele. More than 500 companies are using it.
The details of the takeover were not revealed. Oladele will be the Head of Product in Chowdeck, and a few members of the Mira team will come on board.
Chowdeck started as a last-mile delivery service in Nigeria and Ghana. It has over a million customers and 3,000 riders, supplying food, groceries, and pharmaceuticals.
This action is a vertical integration move. Chowdeck not only has command of delivery but also the vendor aspect of the business.
The startup operates in the enterprise software industry, which is characterised by long sales cycles, extensive integration requirements, and ongoing vendor support.
Nevertheless, it can use its current relationships with delivery to promote adoption. The integrated suite might be attractive to vendors who are already using its platform.
With Chowdeck reinventing the supply chain of vendors, the biggest question is whether this strategic growth will be worth it.
