There is a Portuguese who is saving up money for restaurants. Diogo Cunha founded Katoo in 2019, launch the food industry is already present in Portugal, Spain and Italy. You restaurants can save up to 5% on vendor costs because orders are controlled through a platform, not pen and paper. The decision conquered the market and earned the € 6.1 million investment round announced on Thursday.
The capital injection will serve to develop the product and prepare for its launch in the Latin American market in 2022. The investment will also enable the opening of an office in Portugal, which currently employs five people – there will be 10 by the end of October.
Katoo also has offices in Spain (40 people) and Italy (20 people). 10 more employees launch in remote format. In total, the company has 75 employees.
By the end of this year, the team will almost double. hire more than 60 people in technology, products, growth and business development.
The deal was calculated for the Portuguese venture capital fund Shilling Founders Fund and the North American Expa, FJ Labs and Soma Capital.
Entrepreneurs such as Glovo co-founder Sacha Michaud, Tiller Dimitri Farber or TheFork Marcos Alves Cardoso also took part in the round.
Currently, the company already has more than five thousand clients, between restaurants and suppliers.
For restaurants, this solution provides “significant savings” as they are businesses “operating at very low margins,” says Diogo Cunha in a written response to questions posted by Dinheiro Vivo. The manufacturer also notes that the platform “helps save time and reduce waste.”
The app is free for restaurants, “and it always will be,” says Katoo co-founder, along with Spaniard Karan Anand.
A service is being created for suppliers that “adds value” and allows them to “increase their operational efficiency and increase their profit base.” The option will launch in the coming months, will have subscription models, and will be a source of income for Katoo.
Last year, transactions on the platform reached $ 220 million (€ 189 million). That is, there is a market potential for launch start eating recipes.
In a statement, Pedro Santos Vieira, head of the Portuguese Shilling Foundation, emphasized: “Katoo’s value proposition and the ability to support a Portuguese-based company that is growing in southern Europe and Latin America is a great way to achieve this goal. impact on national and international ecosystems “.
Prior to this investment round, Katoo had already received around three million euros at the end of November. Following Thursday’s announcement, a capital injection into launch The amount currently stands at 9.1 million euros.
