Ordering and paying for meals can often feel like an annoying long wait, and Mira, a fintech startup founded by Ted Oladele, a former VP of design and innovation at Flutterwave, wants to change that.
Mira’s QR code payment system instantly lets you pay for your food, potentially reducing wait time and bringing predictability and order to the dining experience. Mira’s solution allows customers to scan a QR code, view their personalized bill, and pay instantly through bank transfer, Apple Pay, or card.
Mira’s journey began with a lofty goal: eliminating the wait for ordering restaurant meals. Launched in 2022, Mira’s founder, Ted Oladele, was tired of the typical routine—sifting through paper menus, waiting for waiters, and facing limited payment options. He envisioned Mira as a comprehensive point-of-sale solution that improves the dining experience for both restaurants and customers. Mira hopes to create a world where users can browse digital menus, place orders and even split the bill – all from their phones.
Mira claims to have onboarded over 100 restaurants in Lagos on its platform and charges an annual subscription fee of ₦15,000. The startup charges 2% per processed order. Mira raised $200,000 in funding in a family and friends round and has already processed $60,000.
The startup also offers online vendors a link for customers to order directly from Instagram or WhatsApp, eliminating the fees charged by third-party food delivery platforms.
In a crowded market dominated by established players like Paystack and Flutterwave, Mira’s fight for a slice of the pie requires differentiation and a clear value proposition.
While they have transparent and competitive pricing with a 2% processing fee and an affordable subscription, scaling this model efficiently becomes a delicate dance as they strive to maintain affordability while ensuring profitability. Additionally, convincing restaurants to switch from entrenched systems demands robust marketing and outreach strategies. Oladele says the company is bullish on ramping up its scale and is looking to onboard all major restaurants across Lagos.
According to Oladele, Mira’s solution allows businesses to increase profit margins and offers a payment tracking feature that helps businesses reconcile their accounts.
