Quandoo closes $25m growth financing led by Piton Capital
Press Release 23/July/2014. Quandoo has closed its Series C financing round led by Piton Capital and affiliates. Holtzbrinck Ventures and DN Capital, the Sixt family (a lead investor in the seed round) and Texas Atlantic Capital also participated.
Quandoo today announced the closing of its Series C financing round lead by Piton Capital and affiliates.
Beside the lead investors the two Venture Capitalists who lead the A and B round, Holtzbrinck Ventures and DN Capital, as well as the early investors, the Sixt family (lead investor in the Seed round) and Texas Atlantic Capital, participated in this growth-financing round.
In the year and a half since launch Quandoo has developed into the fastest growing real-time reservation platform for restaurants in Europe. Its network of 3,000+ partner restaurants spans 8 countries and has seated more than 1.5 million diners. With this growth-financing round, Quandoo intends to extend its market leadership in Germany, Austria and Italy across Europe as well as launching in APAC and Latin America. Ultimately Quandoo is focused on providing diners globally with a seamless technology-enabled restaurant experience – from targeted suggestions based on individual preferences to effortless bill payment after a great dining experience.
“We are investors in companies with an underlying marketplace model and global aspirations. We have long looked at the restaurant space as a very large opportunity. Quandoo has an excellent product and a proven blueprint to rapidly roll out the model internationally. Most importantly, we have been hugely impressed by the Quandoo team. We believe they are best positioned to become the global leader in the restaurant space.” says Andrin Bachmann from Piton Capital, who will join the Quandoo Board.
“Over the last year we have developed an industry-leading technology and an operating model that together allow us to enter, scale and win every kind of market around the world – from highly competitive markets like Germany or the UK to countries in which we are the first-ever restaurant reservation service. Piton and its affiliates are investors who share our ambition to build a global category leader. We are thrilled to make Quandoo the driving force in connecting restaurants and diners through online and mobile channels all over the world” says Philipp Magin, CEO and Founder of Quandoo.
Name: Rosy Bellorini
Phone: +49 151 431 14 790
Founded end of 2012, Quandoo has developed into the fastest growing restaurant reservation platform in Europe. With more than 1.5 million seated diners in over 3,000 restaurants across 8 countries Quandoo offers consumers an unmatched choice of dining experiences from Michelin-starred restaurants to local favorites. Restaurateurs are equipped with an industry-leading reservation-management system that supports them in driving utilization and engaging with their customers through the Quandoo platform. Quandoo was founded by Philipp Magin, Ronny Lange, Sebastian Moser, Tim-Hendrik Meyer and Daniel P. Glasner and employs more than 180 people.
For more information visit www.quandoo.de
About Piton Capital:
Piton Capital is a venture capital and growth equity firm based in London. It focuses on investments in online companies with network effects, such as marketplaces and exchanges. Its founding partners have deep entrepreneurial and investment experience, and have been instrumental investors in Betfair and QXL Ricardo, amongst others. Piton’s current portfolio consists of companies like BullionVault, DaWanda, videdressing, docplanner, dutycalculator and FanDuel. For more information, please visit http://pitoncap.com.
About Holtzbrinck Ventures:
Holtzbrinck Ventures is one of the leading independent European Internet investors. The team has backed more than 100 companies in very early stages for 14 years and deploys significant follow-on investments in later stages. With successful exits such as Groupon, AdScale, betreut and brands4friends, current portfolio companies include Zalando, Westwing, Wooga, Auctionata, Quandoo, Paymill, Dafiti, Depop and many others.
About DN Capital:
DN Capital is a global early stage and growth capital investor in software, mobile applications, digital media and e-commerce companies with operations in London, Berlin and Palo Alto. DN Capital’s objective is to identify, invest in and actively support its portfolio companies to become global leaders. Portfolio companies include Shazam Entertainment, Apsmart (sold to Thomson Reuters), Endeca Technologies (sold to Oracle), Datanomic (sold to Oracle), Eyeka, Performance Horizon, JacobsRimell (sold to Amdocs), Mister Spex, OLX (sold to Naspers), Quandoo, Scarosso, Videdressing and Windeln.de. The professionals at DN Capital bring over 60 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development. Additional information about the firm and its portfolio companies can be found at http://www.dncapital.com.
The Sixt Family is major shareholder for Sixt SE. Sixt SE is a leading international provider of mobility services. Sixt provides rental, leasing, car sharing and limousine solutions and generates sales of EUR 1.66 billion (2013). The Investment into Quandoo is led by the two brothers Alexander and Konstantin Sixt.
About Texas Atlantic Capital:
Texas Atlantic Capital is a venture capital firm specializing in seed, early, and growth stage investments. The firm seeks to invest in technology companies with a focus on software and digital life domains. It typically invests in Europe, Israel, and the United States. Texas Atlantic Capital is based in Houston, Texas with an additional office in Munich, Germany.