🍽️ Restaurant SaaS allO secures $5M Seed funding
Restaurant software provider allO has raised $5M in a Seed funding round led by 20VC. Other investors include Keen Venture Partners, NL Startup Fund, 20Product, and 20Growth. Notable angel investors are Claire Hughes-Johnson (COO, Stripe), Daniel Khachab (Founder, Choco), Dr. Martin Enderle (Chairman, Delivery Hero), Navid Hadzaad (Founder, Zapp), Mario Götze (German footballer), and Pat Cummins (Captain, Australia Cricket team).
🚀 Expanding into Germany and Europe
allO plans to use the funds to scale into additional cities in Germany and Europe. The company currently serves over 200 locations in Munich and over 75% of the Chinese restaurants in the city. The goal is to become the European counterpart to Toast, a US-based restaurant software company. allO’s multilingual, cloud-based system aims to streamline operations for restaurant owners.
🍲 Focusing on ethnic restaurants
allO was founded by Cancan Liu (CEO), Teodor Rupi (CTO), and Benedikt von Lewinski (CCO). The founders noticed the operational chaos in ethnic restaurants and created a solution to help. With 70% of restaurants in Germany owned by people with ethnic backgrounds, allO provides an integrated system that includes tools for better management, increasing revenue, and streamlining operations.
📈 Impressive growth and future plans
In the past year, allO achieved a 10x growth in annual recurring revenue and a 4x increase in average revenue per user. The company has partnerships with Google, UberEats, Wolt, Lieferando, Stripe, and Paypal. allO’s CEO, Cancan Liu, stated, “We are on a mission to end operational chaos for local restaurants in Europe.” Harry Stebbings, General Partner at 20VC, added, “allO’s integrated solution is built alongside their customer, for their customer.”
How will allO’s expansion impact European restaurants?
