Munich-based restaurant SaaS startup allO has raised $5 million in a seed round led by 20VC, with participation from Keen Venture Partners, NL Startup Fund, 20Growth, and 20Product. The fresh investment will help allO enter new cities in Germany and across Europe.
- Founded in 2020 by Cancan Liu, Benedikt von Lewinski, and Teodor Rupi, allO offers an all-in-one restaurant management system that includes operations management, dine-in and takeaway order handling, reservations, marketing solutions, reporting tools, and staff management.
- allO employs a team of 9 and has partnered with several notable firms, including Uber Eats, Wolt, Lieferando, Google, Fiskaly, Stripe, and Safety Tax Free. Additionally, allO currently operates over 200 locations in Munich, catering to over 75% of the city's Chinese restaurants.
- The startup has seen a 10x increase in annual recurring revenue and a 4x increase in average revenue per user, and is expanding rapidly.
Details of the deal
- The fresh investment was led by 20VC, a London-based venture capital firm specializing in startups in the media sector. The firm boasts a portfolio of 57 startups and has made notable investments in companies like BeReal, Fygo, TechWolf, and Bonnet, with 9 exits to date.
- The funding round was also backed by Amesterdam-based VC Keen Venture Partners, NL Startup Fund, and London-based 20Growth and 20Product, along with support from various business angels.
- The fresh capital will enable allO to expand its operations to more cities across Germany and to further expand into Europe.
