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World of Software > Computing > Chowdeck digs deeper into restaurants with Mira acquisition
Computing

Chowdeck digs deeper into restaurants with Mira acquisition

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Last updated: 2025/06/23 at 11:07 AM
News Room Published 23 June 2025
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YC-backed Chowdeck, a Nigeria-born on-demand delivery platform, has acquired Mira, a point of sale (POS) founded in 2023 by Flutterwave alumnus Ted Oladele and Paystack’s Olaseike Ibojo. The deal adds Mira’s inventory management, payment processing, and inventory financing tools to Chowdeck’s delivery ecosystem. 

The price of the acquisition is undisclosed. However, this positions Chowdeck to integrate Mira’s POS suite—including hardware, inventory management, and invoicing—with its 10,000-strong delivery fleet.

Mira CEO Oladele will join Chowdeck as Head of Product, with some Mira employees to scale the new business segment. Ibojo will be going on a career break after spending most of the last decade at Paystack and working on Mira since its founding in 2023.

This comes on the tail of Chowdeck’s international expansion. The three-year-old startup, which grew from 300 users in October 2021 to 1 million monthly users by October 2024, recently expanded to Accra. The company reports that it is on track to complete 1,000 deliveries in Accra within two months,  a milestone that reportedly took a year to reach in Nigeria.

The Mira acquisition will deepen the startup’s relationship with vendors in new and existing markets. “For a long time, we’ve focused more on the customer side than on the restaurant, supermarket, and pharmacy side,” Femi Aluko, Chowdeck’s CEO,  said. “But as we begin to expand, we’re paying deeper attention to the vendor side.”

Why the acquisition matters

Few sectors in Nigeria are as unforgiving as last-mile logistics. Poor infrastructure, thin margins, and price-sensitive customers keep margins thin, forcing even deep-pocketed entrants like Jumia Food and Bolt Food to abandon the market since 2022. The courier-logistics sector has seen venture capital-funded players like Sendstack, Sendy, Hytch, and others pivot or exit the market for the same reason. Investor interest in the sector—namely, last-mile logistics and food delivery—has also continued to decline.

Acquiring Mira enables Chowdeck to embed itself deeper into merchant operations, moving beyond delivery alone to provide in-store capabilities such as real-time inventory management, a point-of-sale (POS) suite, and integrated payment solutions.

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Chowdeck evolves from a delivery partner into a core business infrastructure provider, driving back-of-house and front-of-house operations. Becoming central to restaurant operations makes Chowdeck’s network far more defensible, as it becomes indispensable to its partners and less vulnerable to the price wars or poaching tactics of rivals.

Previously, Chowdeck’s revenue was primarily generated from delivery commissions and service fees. The integration opens up new income sources, allowing Chowdeck to earn fees from in-store transactions, payment processing, and value-added services such as financing for vendors. 

This strategy mirrors playbooks that have been successful globally. For instance, DoorDash’s acquisition of Bbot enabled it to serve both delivery and in-store customers through unified payment and ordering systems, thereby increasing merchant stickiness. Similarly, Square’s expansion from payments into e-commerce and buy-now-pay-later services created a seamless merchant experience across all channels. These moves have consistently resulted in deeper customer loyalty and improved margins.

In Nigeria, PiggyVest acquired a restaurant aggregator startup in an attempt to secure payments from food businesses. More recently, Glovo, one of Chowdeck’s leading competitors, partnered with Salad Africa to launch a financing program for Small and Medium Enterprises (SMEs) operating on the Glovo platform in Nigeria. This program provides eligible Glovo partners with access to working capital loans ranging from ₦50,000 to ₦100 million, aiming to support their growth and expansion.

Mira’s visibility into in-store data strengthens Chowdeck’s moat

Chowdeck’s acquisition of Mira and its POS capabilities directly addresses a critical pain point for food delivery platforms, significantly enhancing the user experience. A common frustration for customers is ordering an out-of-stock item, which can lead to delays or cancellations. There is often a disconnect between the inventory on the several food delivery apps these businesses use and the inventory as it exists in their walk-in stores.

Osarumen Osamuyi, Founder of Subtext, a publication that has published studies on food delivery emphasises the systemic difficulty of resolving this issue, noting, “The challenge is that it’s difficult to solve this problem without having a monopoly on the market because the restaurants need to be able to sell on multiple aggregators.” Osamuyi noted that these platforms have deployed human agents in high-traffic restaurants to address this issue. “However, being integrated with the inventory management system is a much more elegant way of doing that.”

Mira’s integration allows Chowdeck to mitigate these issues by presenting accurate, up-to-the-minute inventory information. This could translate to fewer cancelled orders, faster delivery times, and an overall smoother ordering experience. Ultimately, by eliminating guesswork and improving order fulfilment reliability, Chowdeck fosters greater trust and satisfaction among users, leading to increased loyalty and stickiness.

Beyond improving the ordering experience, the real-time data from Mira’s integration creates significant opportunities for Chowdeck to support its merchant partners with financing and operational improvements. Deeper insights into a restaurant’s in-store sales and inventory movements enable Chowdeck to gain a more comprehensive understanding of its financial health and operational needs.

The Mira acquisition broadens Chowdeck’s scope from logistics into the competitive fintech sector. 

To scale its POS business, Chowdeck will face deep-pocketed competition such as Moniepoint, a unicorn in the fintech space, which recently acquired a POS startup to target some of the retail customers Chowdeck is now pursuing.

Samuel Frank, an analyst at VC firm Sahara Impact Ventures, notes that acquisitions could lead to a larger team and, consequently, higher staff-related expenses. Mira CEO, Oladele, is joining Chowdeck; it remains unclear how many other Mira team members will transition to Chowdeck or what new hires the merged entity has made. 

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What the future holds 

Despite the retreat of big players like Jumia Food, BoltFood, and others, Nigeria’s food delivery and logistics sector is experiencing rapid growth. Rapid urbanisation and consumers’ growing appetite for convenience are fuelling the growth of Nigeria’s food-delivery and logistics markets. 

Analysts project that the sector’s value will reach $14.41 billion by the end of 2025.

This intense competition compels key players to find unique ways to stand out. Platforms primarily differentiate themselves through their efforts to achieve faster delivery times, secure exclusive restaurant collaborations, such as Chowdeck’s partnership with Chicken Republic in 2024, offer loyalty programmes with subscription-based discounts, and, more recently, integrate advanced technologies like AI for personalised recommendations and route optimisation. The competitive environment is further shaped by the rise of cloud kitchens and virtual restaurants, which enable lower overheads and a wider variety of menus.

Despite the strong growth, the sector continues to face persistent operational hurdles. Significant traffic congestion and unreliable power supplies impact delivery times and operational efficiency. Furthermore, high operation costs and rising inflation remain barriers to broader consumer adoption, while logistical inefficiencies, especially in last-mile delivery, demand ongoing innovation and investment.

Nonetheless, leading platforms continue to adapt their strategies to maintain a competitive edge and gain more market share.

With the acquisition of Mira, Chowdeck is constructing an unparalleled moat. It’s a bold bet that could fundamentally reshape the company’s economics, create a defensible business model beyond mere price competition. If the integration is successful, the company could escape razor-thin margins and emerge as the blueprint for food delivery in Africa.

There just might be a defensible path to success in Africa’s food delivery landscape, which has been heavily criticised as an unwinnable race to the bottom.

Mark your calendars!  Moonshot by is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot..com

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