Funding Round attributes
Tebi Raises $22 million Series A to Transform Retail and Hospitality Operations
Amsterdam-based startup Tebi has raised $22 million in a Series A funding round
Who is funding
This round was led by Index Ventures and marks the company’s first institutional investment since its founding three years ago.
What is the funding for
The funding is set to accelerate Tebi’s product development and expand their global reach to beyond the Netherlands. Tebi aims to bring its all-in-one platform to independent businesses around the world, offering a range of operational tools such as point of sale, payments, inventory management, and bookkeeping. The platform has processed over $109 million annually and has garnered hundreds of merchants on board.
About the company
The Dutch company was founded in 2021 by former Adyen executives Arnout Schuijff and Rob Vonk, alongside other industry veterans. Tebi seeks to replace fragmented point solutions with a single, comprehensive platform. Schuijff, who serves as CEO, was motivated by the challenges faced by small businesses like cafes and shops, which often have to rely on expensive, inefficient financial software. Tebi’s platform provides a one-stop-shop for all their operational needs, allowing businesses to run smoothly without the need for complex, costly setups.
Xander Waller, a long-time hospitality professional who runs a bar in Amsterdam stated: “The whole thing with Tebi is that it’s super easy to work with. It’s like an iPhone, basically everyone can use it from the get-go, so you don’t need to explain anything... In a fast-paced environment, where every minute counts, Tebi ensures... there’s no loss of revenue or miscommunication between the kitchen and the servers; there’s a super clear flow of money, and it’s very clear how the money is earned.”
The importance of retail and hospitality
Their mission is rooted in the belief that hospitality and retail businesses are vital to local communities. By providing them with affordable, easy-to-use technology, Tebi aims to level the playing field for small businesses and empower them to compete with larger enterprises. The company’s mobile-first platform can run on everyday devices like smartphones, significantly lowering the cost of entry for business owners.
Partner statements
“It’s inspiring to partner with founders who are as values-driven and mission-oriented as they are technically talented. We believe that companies who put their customers first will naturally succeed. By combining a deep respect for the people in this industry with unparalleled fintech expertise, Arnout and the Tebi team have the potential to create new standards of excellence for business software.” – Jan Hammer, Partner at Index Ventures
“We’re bringing all the lessons we learnt at Adyen to give these businesses the tools they need to be sustainable. Our goal is to become the operational partner for independent businesses, helping to make better decisions every day, and freeing up owners to bring their full creativity and passion to this critical vocation. By giving access to the same capabilities as large-scale operations, we want to help level the playing field for the businesses that bring life to our cities and neighborhoods.” – Arnout Schuijff, CEO & Co-Founder of Tebi
