Zenchef Secures $50M Equity Investment to Fuel Growth

The French restaurant tech agency Zenchef Tuesday (Sept. 20) introduced in a press release that it had secured an funding of over €50 million from PSG Equity.

Founded in 2011, Zenchef supplies software program options for eating places that purpose to reinforce the client expertise and front-of-house operations. The firm stated that in 10 years it had managed practically 50 million reservations for greater than 7,000 eating places.

Through Zenchef’s platform, which integrates reservation and venue administration, web site and digital menu administration, advertising and marketing actions, click on and gather and cell funds, eating places can management all their front-of-house operations from a single interface.

Zenchef, which is already accessible in additional than 15 nations, together with France, Belgium and Switzerland, intends to make use of the most recent injection of capital to speed up its development in Europe.

The firm additionally acknowledged that it meant to develop “new B2B and B2C products to further strengthen its position within the restaurant tech sector.”

Commenting on the information, Zenchef CEO and Co-founder Xavier Zeitoun stated “in PSG, we have found an ideal partner with a strong track record in accelerating growth for software companies.”

“With their strategic, operational and financial support, we are solidifying our ambition to become Europe’s champion. In our view, PSG will enable us to identify the relevant synergies to better serve restaurant owners and their customers, and help us pursue our ambitious recruitment plan.”

Last 12 months, the agency launched a cell cost answer known as Zenchef Pay due to its acquisition of the FinTech startup Billee. Mobile funds are extra vital than ever for the hospitality sector typically however are particularly important within the quick-service restaurant (QSR) house.

According to the PYMNTS Restaurant Readiness Index, which drew from a survey of greater than 500 U.S. QSR and full-service restaurant managers, greater than 50% of eating places at the moment are at the least reasonably depending on digital channels to generate income.

Read extra: More Than Half of Restaurants Depend on Digital Sales, Despite Uptick in On-Premises Orders

Zenchef intends so as to add to its cell cost answer with a client cell app, the corporate acknowledged as we speak. The app, deliberate for a launch this fall, will embrace numerous options which can be meant to make the person’s expertise extra pleasurable, similar to a geolocation service, themed restaurant rankings and evaluations.

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