TipTop Gears Up: Launches & Seed Investment Opportunities

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TipTop, the online food delivery in Iraq, announced the launch of its new service "TipTop Jet", a direct delivery ordering system for restaurants. The Tech-driven platform allows restaurants to manage their orders, track them from kitchen to customer's front door,  as well as eliminate the cost of recruiting and maintaining delivery fleets and hiring customer service teams.

TipTop launched its delivery service in Erbil in January 2021 to become the new player in Iraq. The Turkey-headquartered team is tapping into the Iraqi startup ecosystem which has been observing unprecedented growth, especially in the E-commerce and Delivery sectors. The number of internet users in Iraq has increased by 2.3% to 30M, which is a good indicator that Iraq has a very promising potential for startups and online services as more players help digitize industries. 

Over H1 2021, two Delivery & Logistics (D&L) startups, Alsaree3 and Hi-Express broke the VC funding stagnation in Iraq to put the ecosystem on the radar in MENA. Based on MAGNiTT’s H1 2021 EVM Delivery & Logistics Venture Investment Report, the Iraq-based D&L industry climbed three ranks to become MENA’s 5th most funded D&L industry in H1 2021 after raising more than $1M in the first half of the year.


 


Since its launch, more than 20K users have registered on the app, with the number of orders increasing by 160% QoQ in the second quarter of 2021. Complementing the growth in demand was an expansion of the team which now includes 100 multinational employees with different backgrounds and expertise. Commenting on TipTop’s journey so far, Founder and CEO Hasan Alsoud highlighted "One of the interesting findings we made is that the number of orders during Ramadan exceeded our expectations, as we had expected it to be lower than the normal days like in other countries such as "Turkey", but the result was surprisingly positive, which explains the differences between the cultures of people in different regions"

The first Dark Store in Iraq

After opening their first Dark Store in February 2021, positioning TipTop as a pioneering startup in launching this concept in Iraq, the online marketplace now operates several Dark Stores in Erbil. The launch of these service points was strategically planned to elevate TipTop’s servicing quality and capacity as Founder and CBO Kerem Aksoy elaborates "This service is expected to raise the quality level of grocery delivery to world standards, by delivering customer needs within 15-30 minutes,"

The Launch of the New B2B and B2C Apps

TipTop announced the launch of its new end-user application and the launch of its new application for restaurant orders. In an all-new layout offering various unique features, the new B2C app provides a seamless user experience, allowing users to track their orders in real-time on the map. For restaurant owners, TipTop has launched a new application with new features and an improved layout to give owners better control of orders, more accurate tracking, and more inclusive order reports; helping restaurant owners drive sales and improve quality by getting clear insights on their order summaries. 

"We want TipTop to be the solution to all problems for all restaurants and customers," Hasan Alsoud remarks as he reveals TipTop’s plans to expand into two more cities in Iraq in the near future. The Iraq-focused team is currently eyeing Seed funding opportunities to anchor their new offerings and drive their further expansion as Alsoud concluded "Investors are welcome to submit their offers to us and we are currently considering some offers from some angel investors and a venture capitalist to boost our speed and expand our services in new cities in Iraq." 


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