Deliverect, a Belgium SaaS company that simplifies online food delivery management, has secured $65 million (approx £47 million) in a Series C funding round from DST Global Partners and Redpoint Ventures. This brings the total funding raised by the company to more than $90 million (approx £65 million).
Existing investors including OMERS Ventures, Newion, and Smartfin also participated in the round. Notably, Deliverect’s founders also invested.
How will the funding be used?
The company will use the funding to support further R&D and product development, solidify its position in the UK, and continue its international expansion.
“We are building a long-term company, and are dedicating our time to create something meaningful for the industry. From the start, our goal was to be the first to facilitate the delivery of a burger to the moon, and to make this happen we are committed to helping our customers be as successful as they can be.
The funding will be used for commercial expansion in our core countries, particularly in the UK and US. With customers like Tonkutsu, Dishoom, Roosters Piri Piri, Burger King, and Prêt à Manger, the UK is one of our biggest markets and we plan to double our team in the coming 12 months.
We will also be investing heavily in research and development expanding our product teams to provide more solutions that help restaurants. Beyond restaurants we’re beginning to observe a new and emerging market trend within the FMCG and grocery space and are keen to enter this area following our recent partnership with Unilever.” – Zhong Xu, Founder, and CEO, Deliverect
Simplifies online food delivery management
Founded in 2018 by Jan Hollez, Zhong Xu, and Zhong Yuan Xu, Deliverect enables restaurants 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.
The Ghent-based company has processed more than 30 million orders and is now averaging more than one million orders processed per week — an increase of nearly 750% from April 2020.
This has equated to more than $1B (approx £720 million) in GMV and provides customers on average an increase of 25% in revenue and a decrease in order failures.
Supports 10,000+ establishments
Working with dark kitchens and restaurant chains, Deliverect supports 10,000+ establishments around the world, including brands such as Pret a Manger, Taco Bell, TimeOut Markets, Taqueria, Le Pain Quotidien, and Dishoom, as well as many local family-run restaurants.
In addition, the company works with Unilever, which through Deliverect can integrate with Deliveroo and Uber Eats and deliver Ben & Jerry’s and Magnum ice creams directly to customers.
Since Deliverect’s Series B in April 2020, the scaleup’s team of 50 people, spread across Ghent, London, Madrid, Toronto, and New York, has more than quadrupled to 200 strong and expanded into Dubai, Paris, Edinburgh, Mexico City, and Amersfoort (Netherlands).
João Almeida, Director, M&A, and Commercial Finance for KFC Western Europe: “Delivery is very important for KFC. Before the pandemic, delivery was already very relevant. We were seeing an increasing number of online delivery orders, and it was – and still is – one of the fastest-growing channels we had. Post-COVID, I can tell you that online sales accelerated even further, and with Deliverect, the time that each rider waits for their order at the restaurant has decreased. We’ve also seen a substantial decrease in the number of incidents, reducing both missing and incorrect orders. This partnership has allowed us to focus on serving the customer with the best chicken in the world, while we leave the technical aspects to the experts at Deliverect.”
Elliot Geidt, Managing Director, Redpoint Ventures: “The explosive rise of online food delivery is forcing restaurants to change how they operate. Zhong and the Deliverect team are building the tools and infrastructure to help restaurants thrive in a world where navigating online food delivery is a matter of success or failure. Zhong has a unique empathy for restaurant owners, and unmatched technical understanding of the food delivery tech stack, and a raw ambition and vision that leaves us very excited.”
Tom Stafford, Managing Partner, DST Global Partners: “Restaurants, consumer goods companies and other businesses increasingly want to enable on-demand ordering by their customers. But many do not have the tools or technology to efficiently work with on-demand delivery providers. Deliverect is providing key software and integrations to enable these businesses to integrate on-demand offerings seamlessly. We are excited to partner with the Deliverect team as they continue to roll out their technology globally and further develop their product offering.”
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