Tebi, the Dutch startup creating an all-in-one working system for small hospitality companies, has raised €30 million in a Sequence B spherical led by CapitalG, the expansion fund backed by Alphabet.
Index Ventures additionally participated, reaffirming their help simply eight months after becoming a member of Tebi’s Sequence A. This newest injection brings Tebi’s complete funding to €56 million, and units the stage for enlargement into the UK and additional European markets.
Tebi CEO Arnout Schuijff defined his motivation: “Hospitality house owners don’t open their doorways as a result of they love integrating 5 completely different software program programs or wrestling with guide stock counts at 2 AM. They do it for the craft, the neighborhood, the look of pleasure within the clients’ eyes after they have a tremendous night.“
Based in 2021 by Arnout Schuijff, Co-founder of Adyen and Bibit, Tebi started as a undertaking to assist a good friend handle bar gross sales extra effectively. What began as a digital substitute for a pen-and-paper ledger has grown right into a complete hospitality OS that integrates point-of-sale, funds, kitchen shows, reservations, stock, and bookkeeping – all supported by a real-time accounting spine.
Becoming a member of Schuijff and Co-founder/CTO Rob Vonk are two new government hires: Aki Tas, former head of enterprise technique at Notion, who joined as COO final yr; and Patrick Studener, beforehand with Uber and Wolt, who turned CCO earlier this yr. The corporate plans to double its workforce from 35 to 70, utilizing the recent capital to additional refine its product and develop its footprint.
Tebi is already being utilized by a spread of eating places and meals distributors throughout the Netherlands, processing 9 figures in annual funds.
Europe’s hospitality SMEs face a frightening mixture of outdated infrastructure and fragmented instruments. In contrast to the US, the place smooth, tablet-based programs dominate, European companies usually depend on legacy bank-issued terminals – nonetheless dealing with over 75% of SME fee quantity, as per CapitalG. Since these machines should not bought alongside fashionable software program, adoption of the latter stays low: Solely ~39% of eating places leverage a degree of sale (POS) software (vs. 95%+ within the US), not to mention use one for reservations, stock monitoring or bookkeeping.
This, mixed with country-specific tax and regulatory complexity, ends in low software program adoption and a disjointed operational panorama. Tebi goals to vary this by providing tightly built-in software program that automates all the pieces from buyer transactions to nightly reconciliation.
With its ‘subledger’ structure, Tebi claims it might probably scale from single meals stalls to giant restaurant teams, enabling seamless real-time information throughout all operations. This technical core powers AI-driven options akin to clever onboarding and good suggestions, promising to simplify workflows and cut back friction throughout the board.
Tebi’s mission resonates strongly with its customers, in accordance with suggestions collected from eating places throughout Amsterdam. A Japanese road meals vendor and a waterfront seafood eatery alike expressed satisfaction with the system’s ease of use, function richness, and transparency in pricing.
Whereas the startup is already effectively underway within the Netherlands, its UK launch marks the following step in what the workforce sees as a Europe-wide transformation.
CEO Schuijff added: “We’re constructing one thing essentially completely different. Not yet one more software so as to add to the stack, however changing them with an entire monetary working system that thinks like hospitality works.”
Because the software-led funds motion features momentum in Europe, Tebi positions itself not simply as a POS supplier however as a every day important for hospitality companies.
The corporate’s imaginative and prescient – to empower entrepreneurs to concentrate on their craft as a substitute of again workplace complexity – could resonate far past its residence bar in Amsterdam.
