Founded in 2020, the startup Allo aims to help small restaurants in particular with their digitalization. Unlike larger establishments and chain restaurants, they often lack the necessary resources to implement technology-based solutions for booking processes, ordering, team management, and the like.
Allo now plans to offer all these and other tools bundled into its platform, thus "making the technological level of McDonald's and Starbucks accessible to small restaurants," as the company's website states. A dedicated app store will also facilitate the integration of third-party solutions such as PayPal, Lieferando, and Datev. Furthermore, the three founders, Benedikt von Lewinski, Cancan Liu, and Teodor Rupi, aim to further differentiate themselves from their competitors by avoiding additional hardware and long-term contracts.
Allo supports cash payments
Allo also promises not to insist on using smartphones as connected point-of-sale terminals. Instead, they want to support cash payments. The founders are clear that cash still reigns supreme in Germany, even though COVID has accelerated the acceptance of contactless payments. The startup hopes to appeal to restaurateurs who are wary of card transaction fees.
With their approach, the three founders have now convinced their first investors. They raised €1.4 million in their seed round from Keen Venture Partners. The venture capital firm, based in Amsterdam and London, has a diverse portfolio that includes a wide range of business solutions, from tourism and learning to cybersecurity. The Munich-based startup also invests Finn Keen Venture Partners has invested in the company. The venture capital firm also has experience with the restaurant business, as demonstrated by its investment in the Amsterdam-based food ordering portal Takeaway.com, which has since been merged into Justeat.
In addition, several business angels participated in the financing round, including Martin Enderle, Chairman of the Supervisory Board of Delivery Hero. The three founders plan to use the fresh capital to expand the company and expand throughout Germany.
