Deliverect, a Belgian startup that integrates Uber Eats, Deliveroo, DoorDash, Just Eat Takeaway.com and other providers into restaurant point-of-sale systems, announced it has raised $65 million in a Series C funding round from DST Global Partners and Redpoint Ventures, as well as existing investors OMERS Ventures, Newion and Smartfin. The company’s founders also invested in the round.
That significant cash haul comes shortly after the company surpassed another milestone, exceeding 30 million delivery orders processed by its systems. That latest investment brings its total fundraising to more than $90 million in three years.
Deliverect is now averaging more than one million orders processed per week, which is an increase of nearly 750 percent from April 2020. This is estimated to equate to more than $1B in order value and provides customers, on average, an increase of 25 percent in revenue, as well as an 80 percent decrease in order failures, according to the company.
Deliverect co-founder and CEO Zhong Xu said, “The hospitality world is in a historical moment of change and digitalization, and the delivery sector has become crucial for the survival of this industry. The impact of this funding round goes beyond just Deliverect and our team. It’s about the restaurants who are surviving and thriving despite the challenges of COVID-19. These funds will fuel our commitment to providing them with personalized technology to help them grow through their online sales and delivery channels.
“I have been embedded in the restaurant industry from a young age, so I am acutely aware of the often-slim margins and the fundamental need to maintain a superior customer service experience in order to stay afloat. There is a significant need for a solutions-based company that can help restaurants overcome these challenges. Deliverect aims to become the global gateway for online food ordering and delivery, helping restaurants around the world to thrive online. This is a new category and we are proud to say we are the leading solution in the market.”
Since Deliverect’s Series B in April 2020, the company’s team of 50 people, spread across Ghent, London, Madrid, Toronto and New York, has more than quadrupled to 200 and expanded into Dubai, Paris, Edinburgh, Mexico City and Amersfoort (Netherlands).
This latest round of funding will be used to support further research and product development, solidify its position in the U.S. and continue their international expansion.