Choice secures $7.1M Series A to expand its restaurant operating system across Europe
Summary
Choice, a Prague-founded all-in-one SaaS platform for restaurants, has secured $7.1 million in Series A funding, bringing its total raised to $11.6 million. The platform consolidates online ordering, payments, reservations, and marketplace integrations, serving over 30,000 registered restaurants, with 7,000 paying customers across nine Central and Eastern European markets. Choice processes 1.5 million monthly orders, representing approximately €35 million in monthly gross merchandise value, and aims for €500 million in monthly turnover within three to four years. The new capital will fuel rapid expansion into new European markets, starting with Portugal, Spain, and Italy, followed by France, Germany, and the Netherlands, alongside product development, including AI-integrated modules.
Key takeaway
For AI Product Managers developing solutions for the hospitality sector, your focus should be on creating integrated platforms that consolidate disparate functions. This approach, exemplified by Choice's success, directly addresses restaurants' need for operational efficiency and margin protection by centralizing customer data and streamlining digital interactions, rather than offering single-feature tools.
Key insights
Integrated restaurant operating systems can enhance efficiency and profitability by consolidating fragmented digital tools.
Principles
- Local market adaptation is crucial for European expansion.
- Consolidating tech solutions improves restaurant operational control.
Method
Choice scales by combining local sales teams, efficient capital deployment from its CEE base, and AI-driven product innovation to win market by market.
In practice
- Integrate QR menus, payments, and ordering.
- Offer commission-free takeaway and delivery.
- Connect with major marketplace platforms.
Topics
- Restaurant Operating System
- SaaS Platform
- Series A Funding
- Marketplace Integrations
- AI-driven Product Innovation
Best for: Entrepreneur, Investor, AI Product Manager
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Editorial summary, takeaway, and curation by AIssential. Original article published by Tech.eu - Tech.eu.