Merchant Innovation

StartUp Lands $25M To Compete With OpenTable

Startup Quandoo wants to take on OpenTable in the real-time restaurant reservation game. And as of yesterday, it had $25 million more in funding to help it in that battle.

As reported by TechCrunch, Quandoo closed its latest funding Series growth financing round, which was lead by Piton Capital and affiliates.

Company CEO and founder Philipp Magin told the news source that there is a big opportunity in the real-time reservation industry. This is especially true because in the UK and Germany, adoption of cloud booking platforms is at a low-level while most of the other markets have a lot of greenfield opportunity as it shifts online.

“In most countries there are some smaller service providers but in almost all cases they do not provide restaurants with an actual management system that reflects the restaurants’ inventories in real-time, and thus have significant shortcomings on the consumer side,” he said.

Since Quandoo launched a year and a half ago, it reports that it has garnered a network of over 3,000 partner restaurants spread out across 8 countries. With the latest round of funding, the company hopes to expand its presence in Germany, Austria and Italy. Additionally, Quandoo wants to launch in APAC and Latin America, according to the news source.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

——————————

LIVE PYMNTS ROUNDTABLE: MODERNIZING & SCALING FOR THE NEW NORMAL

The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

Click to comment

TRENDING RIGHT NOW