Restaurant SaaS allO Secures $5M Seed Funding

Restaurant software provider allO has raised $5 million in a Seed funding round to expand its presence in Germany and Europe. The company has partnerships with major firms like Google, UberEats, Wolt, Lieferando, and Stripe. allO also received the Red Dot award in 2023.

The funding round was led by 20VC, with participation from Keen Venture Partners, NL Startup Fund, 20Product, 20Growth, and notable angel investors including Claire Hughes-Johnson (COO, Stripe), Daniel Khachab (Founder, Choco), Dr. Martin Enderle (Chairman, Delivery Hero), Navid Hadzaad (Founder, Zapp), Mario Götze (German international football player), and Pat Cummins (Captain, Australia Cricket team).

allO offers a digital end-to-end operating system that provides restaurant owners with a single subscription to manage their operations, increase revenue, and streamline processes.

The company’s goal is to become the European counterpart to Toast in the US, starting with Germany, one of Europe’s largest markets, before expanding across the continent. allO currently serves over 200 locations in Munich, covering more than 75 percent of the city’s Chinese restaurants.

The European restaurant market, with over a million establishments, faces challenges due to inefficiencies and high costs associated with unintegrated hardware and software solutions. These issues impact profitability, especially in an industry still recovering from post-pandemic labor shortages.

Founded by immigrants Cancan Liu (CEO) and Teodor Rupi (CTO), along with Benedikt von Lewinski (CCO), a former Wolt and Deliveroo employee, allO began by developing simple software for ethnic restaurants. They often wrote code on-site while interacting with owners, managers, and staff.

These small to medium ethnic restaurants are particularly underserved by existing software providers. With a significant wave of immigration to Europe over the past two decades, many immigrants have turned to the food industry for income and prosperity. The growth of ethnic restaurants meets the rising demand for dine-in ethnic cuisine and the expanding online delivery market. In Germany, 70% of restaurants are owned by individuals with ethnic backgrounds.

allO’s multilingual, cloud-based system includes all necessary tools for restaurant management. The company’s growth in the ethnic segment is supported by partnerships with major companies like Google, UberEats, Wolt, Lieferando, Stripe, and PayPal. allO was awarded the Red Dot award in 2023.

In the past year, allO has seen a 10x growth in annual recurring revenue (ARR) and a 4x increase in average revenue per user (ARPU). The company is now rapidly expanding, with plans to launch in Frankfurt and Düsseldorf in the coming months.

Cancan Liu, CEO of allO, stated, “We aim to end operational chaos for local restaurants in Europe. Our solution allows restaurant owners to focus on providing a great experience to their guests.”

Harry Stebbings, General Partner at 20VC, added, “Restaurant software in Europe is fragmented and hinders productivity. allO’s fully integrated solution, built alongside and for their customers, represents a significant opportunity to consolidate market share for point-of-sale systems in Europe.”

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