BELGIUM – Deliverect, the Belgian start-up streamlining the restaurant industry with its online food delivery management software, has raised €16.25 million (US$17.63m) in its Series B funding round to support its global expansion ambitions.
The funding round was 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.
Deliverect eliminates the requirement for restaurant staff to monitor multiple devices and manually re-enter orders into their existing system, which the company said dramatically reduces both staff workload and the probability of errors.
Deliverect is also used by ‘virtual’ kitchens, 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.
The startup has proven useful especially 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.
“Our starting point when creating Deliverect was to give restaurants the tools they need to remain competitive in a digital world,” Deliverect CEO and co-founder Zhong Xu commented.
“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 company, which was founded in 2018, revealed that it 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 has looped in 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.
Following the investment, Deliverect plans to further R&D and product development, solidify their position in Europe and look into international expansion. The company currently has a team of 50 people around the world.
OMERS Ventures Managing Partner, Jambu Palaniappan will now join the Deliverect board.