Founded in September 2018 in Ghent, Belgium, Deliverect allows food delivery companies such as Deliveroo and Talabat to have access to restaurants through an automated point of sale system.
Tech start-up Deliverect has raised $65 million in a funding round to expand into international markets, including the Middle East. Founded in September 2018 in Ghent, Belgium, Deliverect allows food delivery companies such as Deliveroo and Talabat to have access to restaurants through an automated point of sale system.
The fundraising round was led by venture capital firms DST Global Partners and Redpoint Ventures, and was joined by Deliverect’s existing investors.
"The explosive rise of online food delivery is forcing restaurants to change how they operate,” managing director of California-based Redpoint Ventures Elliot Geidt said. “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.”
In April 2020, Deliverect raised $19.8 million in a series B funding round. It used this funding to quadruple its team to nearly 200 and expanded into new markets including Dubai, Paris, Edinburgh, Mexico City and Amersfoort.
Deliverect saw a large increase in the number of its customers amidst the outbreak of the pandemic, as restaurants sought out new technologies to facilitate online deliveries. It processed more than 30 million orders last year. Now, it is averaging more than one million orders per week, an increase of nearly 750% from April 2020.
The new funds will enable Deliverect to offer “personalized technology” to restaurants that will allow them to grow through online sales and delivery channels, according to Zhong Xu, co-founder and chief executive of Deliverect.
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