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April 4, 2019updated 05 Apr 2019 9:48am

Deliverect raises €3m in funding for smart POS technology

SaaS food delivery management company Deliverect has received €3m (£2.57m) in funding from Amsterdam-based investor Newion Investments and smart technology investment firm SmartFin.

By Rosie Lintott

SaaS food delivery management company Deliverect has received €3m (£2.57m) in funding from Amsterdam-based investor Newion Investments and smart technology investment firm SmartFin.

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Deliverect connects third-party online delivery platforms such as Uber Eats, Takeaway.com and Foodora to the point of sale (POS) systems of restaurants. The company simplifies the process of managing online orders, bringing more efficiency for restaurants that also provide online food delivery.

When using Deliverect, online orders are processed directly in POS systems where they can be managed from one place, avoiding the need to re-key orders for customer’s receipts and thus reducing workload and errors at the restaurant.

Restaurants are able to change their online menus from a single interface and add further delivery channels  easily.

Deliverect won innovation awards at Belgium’s Horeco Expo in November 2018 and Dutch hospitality fair Horecava in January. Both prizes acknowledged Deliverect’s solution for a problem that is becoming more present in the hospitality industry due to the rapidly growing online delivery market.

According to the company, Deliverect customers Goiko Grill (Spain), Lucy Chang (Belgium), Absurd Bird (UK) and Keatz (delivery-only restaurants in Europe) reported substantial improvements in operations and profits since using the system.

Deliverect CEO and co-founder Zhong Xu said: “We will use a substantial part of the new funding to grow our international team. We are looking forward to attracting ambitious, entrepreneurial developers and the best marketing and sales people to meet the global demand for our solution.”

Newion Investments partner Mathijs de Wit said: “The central management of online restaurant ordering platforms is a worldwide trend and Deliverect is the company to make this happen.”

SmartFin Thomas Depuydt said: “In addition, we see that delivery-only restaurants, the so-called ‘dark kitchens’, cannot be competitive without the Deliverect solution.”

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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