Northern Gulf Partners, a frontier market investment firm, and California-based Pay It Forward Venture Capital, have led a seven-figure US dollar seed round investment in Lezzoo, a delivery and e-payment platform that aims to become Iraq's first super-app.
Lezzoo received a pre-seed investment from Silicon Valley's Y Combinator and is the only Iraqi start-up accepted into its well-known accelerator program. Angel investors and family offices in the USA, Europe, and the Middle East joined the seed round.
Lezzoo delivers items such as prepared food, groceries, and pharmaceuticals in several Iraqi cities. The recently launched Lezzoo Pay seeks to disrupt Iraq's predominantly cash-based society by bringing digital transactions to a population that is majority unbanked.