Deliverect Pitch Deck to Raise $65m Series-C Round
Back To The CollectionThis is the Deliverect pitch deck to raise a $65m series-c round in 2021.
About
Deliverect is a subscription-based service that integrates third-party online ordering platforms like Uber Eats, Deliveroo, Glovo, and Doordash into restaurants’ point-of-sale systems, automating the inbound online order flow through a single point and eliminating the requirement for restaurant staff to monitor multiple devices and manually re-enter orders into their existing system.
Delivery payments startup Deliverect has raised $65 million in its second funding round during the pandemic.
The Belgian startup connects the likes of Uber Eats, Deliveroo, DoorDash, and Just Eat directly to restaurants through its point-of-sale (POS) automation system. Deliverect, which was founded in 2018, claims to have processed 30 million orders last year.
Demand for delivery services has ballooned during the pandemic as lockdowns forced restaurants to pivot heavily toward takeaways.
Ghent-based Deliverect has raised the new funds in a Series C round led by Stripe backers DST Global Partners and Redpoint Ventrues.
The startup’s CEO Zhong Xu said the company is averaging around a million orders a week, which he claims is a 750% increase on April of last year.
“In such a short time we have created something essential,” Xu said in an interview with Insider. “There has been a big transition from offline to online for restaurants and we provide the solution that connects the two.”
Deliverect’s solution integrates restaurants’ POS systems to remove errors and help reduce the need for staff to monitor orders. The company estimates that this dramatically reduces the number of orders refunded by restaurants due to errors.
This round is Deliverect’s second during the COVID-19 pandemic having also raised €16.3 million ($19.62 million) in a Series B funding round last April. The latest round brings Deliverect’s total funding raised up to $88.95 million.
“We had a lot of interest,” Xu added. “I think our vision and our mission is compelling, what we’re building is essential and impactful for businesses.”
Existing investors OMERS, Newion, and Smartfin also joined the latest funding round.
Deliverect works with more than 10,000 cloud and dark kitchens and restaurant chains in over 30 countries. The new funds will be used to fund further international expansion with a particular focus on the US, according to Xu. The startup’s CEO also said the company’s 200-strong headcount will expand rapidly off the back of the new round.
Funding Rounds
Announced Date
|
Transaction Name | Number of Investors | Money Raised | Lead Investors |
Apr 21, 2021 | Series C – Deliverect | 8 | $65M | DST Global |
Apr 29, 2020 | Series B – Deliverect | 3 | €16.3M |
OMERS Ventures
|
Apr 2, 2019 | Series A – Deliverect | 2 | €3M | Newion |
Jul 10, 2018 | Seed Round – Deliverect | — | €650K | — |
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