allO, a SaaS startup has secured a €1.4 million financial infusion to transform the way restaurants run. The Munich-based team wants to improve restaurant owners’ life and create a digital gastronomy future.
Keen Venture Partners led the seed round with the participation of angel investor Martin Enderle, the chairman of Delivery Hero.
With this finance, the young team hopes to launch its ambition to top the market for SMB restaurant solutions. The funding will be used to expand the team across Germany.
In Europe, going out to eat for a lovely dinner, a fun catch-up, or even a family gathering is a common activity. We have been doing it for many generations, and going to a restaurant hasn’t changed all that much through the years.
To improve booking procedures, ordering, team management, and other operations, restaurants have been gradually adding more tech-based solutions and technologies in recent years as the world has become more digital. Since costs are high and resources are scarce, many local, smaller restaurants have found it difficult to keep up with the major competitors in the industry, such as chains.
allO was founded in Munich and aimed to use technology to transform the restaurant industry completely. The firm has recently acquired additional funding to grow and develop the product.
allO is on a mission to provide small restaurant owners access to McDonald’s level technology to give them the technological advantages they need to compete with chains and other major players in the market.
Three co-founders of allO, including Teodor Rupi and Cancan Liu, who had moved to Germany as students, met and collaborated on the concept. They got together in eateries to talk about business concepts, and allO was finally founded. To obtain real-time management feedback, they built the first iteration of the product in their customers’ restaurants.
The company, based in Munich, aims to provide restaurant operators with all the software tools they want on a single platform. Giving out easy-to-use, straightforward tools can improve customer satisfaction and restaurant performance. Immigrant-run businesses make up the majority of the existing clientele and are, in large part, the foundation of the restaurant industry.
Image Credit: allO