Quandoo, the Berlin-based marketplace for restaurants and venues, announced the closing of a $8 million series B financing round led by DN Capital and Holtzbrinck Ventures. Existing investors include the Sixt family, CRES Columbus Internet Group, Atlantic Capital Partners and some prominent business angels. Rapidly growing startup targets new non-European markets.
In a press release, company says they will use fresh funds to strengthen their team and market leadership in countries where it already operates – which include Germany, Austria, Switzerland, Italy and recently-added Turkey, and to make it available in all large European metropolitan areas in forthcoming months. The company also plans to expand further outside of Europe in second half of the year.
Founded by Philipp Magin, Ronny Lange, Sebastian Moser, Tim-Hendrik Meyer and Daniel P. Glasner in Berlin in late 2012, Quandoo provides an online and mobile reservation and yield system letting customers to easily book tables in a wide range of restaurants, from local hits to Michelin-awarded elites. Modules of the system include an integrated cashier system that enables the businesses to market their capacities to local consumers as well. Having enjoyed a rapid growth in just one year following the foundation, the company now employs more than 120 people and have 3000+ restaurants in its portfolio.
In praise of the funding, Imran Akram of DN Capital said ‘the Quandoo value proposition to restaurants and customers is far superior to any that exists today and combined with the operational excellence of the team is a very attractive investment’. DN Capital is a global early stage and growth capital investor in software, mobile applications, digital media and e-commerce companies with offices in London and Palo Alto.