Zenchef secures $50 million equity investment to fuel growth

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French restaurant technology company Zenchef announced in a press release on Tuesday (September 20) that it had secured an investment of more than €50 million from PSG Equity.

Founded in 2011, Zenchef provides software solutions for restaurants that aim to improve customer experience and dining room operations. The company said that in 10 years it had managed nearly 50 million reservations for more than 7,000 restaurants.

Through Zenchef’s platform, which integrates reservation and venue management, website and digital menu management, marketing activities, click and collect and mobile payments, restaurants can control all of their indoor operations. from a single interface.

Zenchef, which is already present in more than 15 countries, including France, Belgium and Switzerland, intends to use the latest injection of capital to accelerate its growth in Europe.

The company also said it intends to develop “new B2B and B2C products to further strengthen its position in the restaurant technology sector.”

Commenting on the news, Xavier Zeitoun, CEO and co-founder of Zenchef, said: “We have found in PSG an ideal partner with a solid experience in accelerating the growth of software companies”.

“With their strategic, operational and financial support, we are realizing our ambition to become the European champion. In our view, PSG will enable us to identify relevant synergies to better serve restaurateurs and their customers, and help us pursue our ambitious recruitment plan.

Last year, the company launched a mobile payment solution called Zenchef Pay through its acquisition of FinTech startup Billee. Mobile payments are more critical than ever for the hospitality industry in general, but are particularly important in the quick service restaurant (QSR) space.

According to the PYMNTS Restaurant Readiness Index, which is based on a survey of more than 500 QSR and full-service restaurant managers in the United States, more than 50% of restaurants now rely at least moderately on digital channels to generate income.

Read more: More than half of restaurants rely on digital sales, despite rise in on-site orders

Zenchef intends to supplement its mobile payment solution with a consumer mobile app, the company said today. The app, slated for launch this fall, will include various features aimed at making the user experience more enjoyable, such as a geolocation service, themed restaurant rankings and reviews.

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https://www.pymnts.com/acquisitions/2022/investment-firm-aquila-buys-cibar-to-add-trade-finance-solutions/partial/

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