Published on April 29, 2020
Service simplifies online ordering management and fulfilment for restaurants
GHENT, BELGIUM: 29TH April 2020, 9AM BST / 10AM CEST – 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 €16.25 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.
The company, which has a team of 50 people around the world, will use the investment to support further R&D and product development, solidify their position in Europe and look into international expansion. OMERS Ventures Managing Partner Jambu Palaniappan will join the Deliverect board.
According to Deliverect CEO and co-founder Zhong Xu, “Our starting point when creating Deliverect was to give restaurants the tools they need to remain competitive in a digital world. I grew up in the restaurant industry, so am acutely aware of the often-slim margins and the fundamental need to serve as many customers as possible. Our founding team is responsible for creating one of the first iPad-based POS systems, which is now used around the world, so we’ve experienced challenges in this industry from both sides. With the proliferation of online delivery services, restaurants deserve to be able to take advantage of them all. In the current climate in particular, we help restaurant businesses get onto all these different online channels, so they can generate revenue by selling online.”
The platform streamlines essential restaurant operations by providing a single interface for online orders, with consolidated reporting and inventory management. It also simplifies the outbound flow of information, meaning menu uploads and updates only need to be made once and then shared with multiple delivery services. Restaurants can get set up with Deliverect within a few hours.
According to Jambu Palaniappan, Managing Partner, OMERS Ventures, “The Deliverect team has seen how growth in online delivery has driven the need for digital innovation in the restaurant industry, and under normal conditions, also created an opportunity for owners to grow their businesses. Witnessing the way the team has stepped up to help many restaurants shift to digitally-enabled online businesses in a matter of hours has only reinforced our conviction that this start-up is something special.”
About Deliverect
Deliverect is a Belgian SaaS company that simplifies online delivery management for food businesses by integrating third-party food ordering platforms within a company’s POS or business systems. With all online orders centrally managed, these businesses can increase operational efficiency and customer satisfaction. Deliverect’s mission is to be the connection between food businesses and their customers in order to strengthen their relationship. Deliverect has been steadily expanding around the world – signing up not only restaurants, but big chains, enterprises and other food businesses. Founded in
2018 by Zhong Xu, Jan Hollez, Jelte Vrijhoef and Jérôme Laredo, Deliverect operates globally with offices in Ghent, London, Madrid, Toronto and New York. Among Deliverect’s customers are Absurd Bird, Yoobi, You Me Sushi, Taqueria and Unilever. Visit Deliverect’s website for more information.
About OMERS and OMERS Ventures
Founded in 1962, OMERS is one of Canada’s largest defined benefit pension plans, with CAD$109 billion in net assets as of December 31, 2019. OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe – serving members and employers and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure and real estate. OMERS Ventures currently manages CAD$2 billion and has made more than 50 investments in disruptive technology companies across North America and Europe. For more information visit www.omersventures.com.
About Newion
Newion is a leading Amsterdam based investor, focused on European business-to-business software start-ups and scaleups with a global ambition. The company was founded in 2000 and is based in Amsterdam. Newion III is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI), set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to finance. Visit newion.com for more information.
About SmartFin
SmartFin operates early stage and growth stage investment vehicles targeting technology companies headquartered in Europe and the United Kingdom. SmartFin has an anti-cyclical and long-term oriented investment philosophy and is managed by a strong team that combines financial, operational and entrepreneurial experience, supporting its portfolio companies in their growth ambitions. SmartFin provides replacement and expansion capital to European growth companies that display the potential for significant value creation in fast growing market segments. Visit www.smartfinvc.com for more information.
