Food tech start-up Deliverect has secured $65 million in a Series C funding round, as it aims to simplify online food delivery management with its software.
New investors DST Global Partners and Redpoint Ventures joined the Series C round, as well as existing investors Omers Ventures, Newion and Smartfin and Deliverect’s founders.
Founded in 2018, Deliverect supports global restaurant chains, FMCG brands and local family-run restaurants to manage and grow their online orders, by connecting delivery companies directly to restaurants’ point-of-sale system.
The platform supports over 10,000 establishments around the world including Pret a Manger, Taco Bell, Dishoom, as well as Unilever – which through Deliverect is able to integrate with Deliveroo and Uber Eats to deliver Ben & Jerry’s and Magnum ice creams directly to consumers.
The Series C funding round brings Deliverect’s total fundraising to more than $90 million in three years. Since its Series B round in April last year, the team of 50 employees has grown to 200 and the company now operates in over 30 markets worldwide.
Deliverect plans to use the capital to support further R&D and product development, solidify its position in the US and continue its international expansion.
The Belgian start-up has reached a milestone as it surpasses 30 million orders processed in the last year, equating to more than $1 billion in order value. The company is averaging more than one million orders processed per week, representing an increase of nearly 750% since April 2020.
“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 personalised technology to help them grow through their online sales and delivery channels,” said Zhong Xu, co-founder and CEO of Deliverect.
“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.”
© FoodBev Media Ltd 2020
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