Food Tech Start-up Deliverect Raises EUR16.25 Million to Expand Internationally
GHENT, Belgium, April 29, 2020 /PRNewswire/ -- Deliverect (www.deliverect.com), the Belgian start-up streamlining the restaurant industry with its online food delivery management software, today announced that it has raised EUR16.25 million in its Series B funding round, led by OMERS Ventures, with existing investors Newion, Smartfin, and the company's founders also participating.
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. It eliminates the requirement for restaurant staff to monitor multiple devices and manually re-enter orders into their existing system, dramatically reducing both staff workload and the probability of errors.
Deliverect is also used by 'virtual' kitchens. These are essentially delivery-only restaurants where, assuming good food is standard, efficiency is paramount and technology plays a critical role in helping to build up brand loyalty with customers. With the number of virtual kitchens on the rise and an increasing number of FMCG businesses and food retailers entering the delivery marketplace, Deliverect aims to become the global gateway for online food ordering and delivery.
With the provision of online restaurant delivery at its core, in order to address the impact of COVID-19, over the past few weeks Deliverect has been on a mission to help hospitality businesses rapidly pivot to online ordering, following the closure of restaurant dine-in services enforced by local governments across Europe. The company has waived all set-up fees for its solution and launched new monthly - instead of annual - subscription plans which can be cancelled at any time. Deliverect has also waived set-up fees for its Click & Collect online ordering module, and is not charging anything for the first six weeks of use.
Deliverect, founded in 2018, 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, the company 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.
Read the full story about this funding, including quotes from Deliverect CEO Zhong Xu and OMERS Ventures Managing Partner Jambu Palaniappan, here.
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SOURCE Deliverect
