Flipdish raises $100m to fuel international expansion
Europe’s leading online ordering and digital experience platform for hospitality, Flipdish, has received a $100 million investment led by Tencent. The funding values the company at over $1.25 billion and follows a $48.5 million investment from Tiger Global Management in February 2021.
Headquartered in Dublin, Flipdish helps thousands of hospitality brands to strengthen their businesses. The investment will be used to grow global operations, support new customers, and fund R&D in products that improve the hospitality industry’s digital experience for consumers.
As part of the investment, Flipdish will hire 700 people in 2022. The majority are technology roles such as software architects, data scientists, engineers, and product designers as well as a host of commercial roles.
Founded by brothers Conor and James McCarthy in 2015, Flipdish allows hospitality businesses to deliver seamless consumer digital experiences which drive business growth. The unicorn provides technology that powers QR code order and pay at table, online ordering for collection & delivery, self-service kiosks, customer loyalty, and digital marketing.
Conor McCarthy, co-founder and CEO of Flipdish said: “Digitisation has been transforming the hospitality sector for years. The ongoing pandemic has further accelerated the trend with hospitality businesses becoming increasingly dependent on digital experiences to attract and retain customers. Our investment will help us to empower more hospitality businesses around the world to grow with the best-in-class technology.”
Tencent will join existing Flipdish investors Tiger Global, global founders capital, Elkstone, Enterprise Ireland and Growing Capital.
“If you want to see the future of digital customer experience and food delivery, look to China,” added McCarthy. “Tencent is our ideal partner with its track record of supporting food delivery companies. Armed with Tencent’s insight and experience, Flipdish will be supercharged in 2022.”
Flipdish operates in 25 countries including France, Germany, Ireland, Spain, the UK and the US, with thousands of independent restaurant customers including some well known Irish brand leaders such as Dunnes Stores, Romayo’s, Base Pizza, Bombay Pantry, The White Moose Cafe and Mao as well as major international brands like Subway, Cojean, and Galeries Lafayette.
Flipdish has seen rapid revenue growth across multiple markets in 2021, fuelled by restaurant owners bringing their online ordering capability in house, rather than relying on a food delivery marketplace, the rapid adoption of their on-premises solutions like QR Code, Order & Pay, and the growth of exciting new verticals like dark kitchens.
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