Quandoo closes USD 25m growth financing round to build the world’s leading real-time reservation platform for restaurants
Berlin, 23 July 2014. Quandoo today announced the closing of its Series C financing round lead by Piton Capital and affiliates.
Beside the lead investors the two Venture Capitalists who lead the A and B round, Holtzbrinck Ventures and DN Capital, as well as the early investors, the Sixt family (lead investor in the Seed round) and Texas Atlantic Capital, participated in this growth-financing round.
In the year and a half since launch Quandoo has developed into the fastest growing real-time reservation platform for restaurants in Europe. Its network of 3,000+ partner restaurants spans 8 countries and has seated more than 1.5 million diners. With this growth-financing round, Quandoo intends to extend its market leadership in Germany, Austria and Italy across Europe as well as launching in APAC and Latin America. Ultimately Quandoo is focused on providing diners globally with a seamless technology-enabled restaurant experience – from targeted suggestions based on individual preferences to effortless bill payment after a great dining experience.
“We are investors in companies with an underlying marketplace model and global aspirations. We have long looked at the restaurant space as a very large opportunity. Quandoo has an excellent product and a proven blueprint to rapidly roll out the model internationally. Most importantly, we have been hugely impressed by the Quandoo team. We believe they are best positioned to become the global leader in the restaurant space.” says Andrin Bachmann from Piton Capital, who will join the Quandoo Board.
“Over the last year we have developed an industry-leading technology and an operating model that together allow us to enter, scale and win every kind of market around the world – from highly competitive markets like Germany or the UK to countries in which we are the first-ever restaurant reservation service. Piton and its affiliates are investors who share our ambition to build a global category leader. We are thrilled to make Quandoo the driving force in connecting restaurants and diners through online and mobile channels all over the world” says Philipp Magin, CEO and Founder of Quandoo.