Belgian scale-up, Deliverect, raises $65 million in Series C to fund R&D and expansion plans
Deliverect, a Belgian scale-up that connects delivery companies directly to restaurants by POS system automation, has raised $65 million in a Series C funding round from DST Global Partners and Redpoint Ventures, as well as existing investors, OMERS, Newion and Smartfin. Deliverect’s founders also invested in the round.
Since the company’s Series B fundraise in April 2020, the scale-up’s team has more than quadrupled to 200 strong and expanded into Dubai, Paris, Edinburgh, Mexico City and Amersfoort (Netherlands). This latest round of funding will be used to support further R& D and product development, solidify its position in the US and continue its international expansion.
From family owned restaurants to large global chains and FMCG brands all over the world, Deliverect enables all types of restaurants to easily manage and grow their online orders. The platform eliminates the need for restaurant staff to monitor multiple devices and manually re-enter orders into their existing system, therefore dramatically reducing both staff workload and the probability of errors.
Deliverect processed more than 30 million orders in the past year alone, and is now averaging more than one million orders processed per week -- an increase of nearly 750% from April 2020. This is estimated to equate to more than $1B in order value and provides customers on average an increase of 25 percent in revenue as well as 80 percent decrease in order failures.
Naji Haddad, General Manager, Middle East added that “this region specifically has ample potential and hunger for online and offline food orders. Restaurants in the GCC are looking for solutions that will help integrate the different channels of delivery to their POS system while automating most of their operations. This is why we are investing in this region and ensuring local presence by opening local offices and hiring a team of highly skilled individuals who will not just help us further develop our relationship with our customers but also listen to their feedback about what they need. We accordingly act upon the market demands to add value and better serve our clients.”
This funding will support a bold play across the entire food tech industry. In order to address the impact of COVID-19, Deliverect has been on a mission to help hospitality businesses rapidly pivot to online delivery and ordering, and now, following the re-opening of many restaurant dine- in services across the globe, the company is looking to help its customers enable further growth and empower control over their business through customer-led product innovation.