Food pre-ordering service Allset raises $8.25m in funding round

1st April 2020 (Last Updated April 1st, 2020 09:50)

US-based food pre-ordering service Allset has raised $8.25m in Series-B funding round amid the Covid-19 pandemic, which forced most restaurants to switch to online deliveries.

Food pre-ordering service Allset raises $8.25m in funding round
The new funding will help Allset to meet the growing demand for online takeout orders. Credit: Marco Verch Professional Photographer and Speaker.

US-based food pre-ordering service Allset has raised $8.25m in Series-B funding round amid the Covid-19 pandemic, which forced most restaurants to switch to online deliveries.

The European Bank for Reconstruction and Development (EBRD) led the round. The company’s existing investors, including Andreessen Horowitz, Greycroft, SMRK VC Fund and a new backer Inovo Venture Partners, also participated in the round.

Following the latest fundraising, Allset has now raised a total of $16.6m.

Allset CEO Stas Matviyenko said: “Today we are actively working to ensure the safety of customers and supporting the local businesses.

“The new funding will enable us to help the communities we serve during this challenging time and to meet the growing demand for online takeout orders, making it easy for people to support restaurants they love.”

The platform has withdrawn the service fee for all existing restaurant partners to mitigate the impact of the current crisis. It has also introduced a daily $4 discount for customers on pick-up orders.

Founded in 2015, Allset operates as a food pre-ordering platform, offering dine-in and pick-up services. The company counts more than 2,500 restaurants across 11 US cities as its partners.

Allset now plans to redesign its platform that will provide personalised restaurant and food recommendations based on order history, dietary preferences and searches.

The new Allset app will also offer a larger variety of exclusive menu offerings and accelerate the processing of common orders such as quick meal or a coffee nearby.

Matviyenko added: “Looking ahead, we aim to strengthen Allset’s position in the busiest districts of our major markets like New York and Los Angeles.

“We want to bring even more value to our customers and be the number one everyday dining solution for busy diners in the busiest districts as soon as the current situation improves.”