Deliverect, a Ghent, Belgium-based startup streamlining the restaurant industry with its online food delivery management software, raised €16.25m in Series B funding.
The round was led by OMERS Ventures, with participation from existing investors Newion, Smartfin, and the company’s founders. In conjunction with the funding, OMERS Ventures Managing Partner Jambu Palaniappan will join the Deliverect board.
The company will use the funds for further R&D and product development.
Founded in 2018 by CEO and co-founder Zhong Xu, Deliverect is a subscription-based service that integrates third-party online ordering platforms like Uber Eats, Deliveroo, Glovo, and Doordash into restaurants’ point-of-sale systems, automating the inbound online order flow through a single point and eliminating the requirement for restaurant staff to monitor multiple devices and manually re-enter orders into their existing system, reducing both staff workload and the probability of errors.
Deliverect is also used by “virtual” kitchens. So far, the company has processed more than 3.5 million orders since its inception, with UK customers including Absurd Bird, You Me Sushi, Taqueria, and Crêpeaffaire. In addition, Deliverect works with Unilever, which through Deliverect is able to integrate with Deliveroo and Uber Eats and deliver Ben & Jerry’s and Magnum ice creams directly to customers.
The company has a team of 50 people with offices in Ghent, London, Madrid, Toronto and New York.
FinSMEs
29/04/2020