In the dynamic world of fintech, a new player is making waves. Tebi, a startup founded by a former co-founder of a leading Dutch payments company, has successfully raised €30 million in funding from Alphabet’s CapitalG. This investment marks a significant milestone for Tebi as it seeks to revolutionize the way hospitality businesses manage their operations.
Overview of Tebi’s Mission
Based in Amsterdam, Tebi is on a mission to streamline operations for restaurants, bars, and other hospitality venues through its comprehensive subscription-based platform. This innovative solution integrates various functionalities, including payment processing, reservation management, and inventory tracking, all designed to enhance operational efficiency.
In a competitive landscape filled with point-of-sale systems and reservation tools, Tebi aims to differentiate itself by offering a unified platform that combines enterprise-level features with accessible pricing tailored for small and medium-sized businesses.
Transition from Adyen to Tebi
Arnout Schuijff, Tebi’s founder, made the bold decision to leave his role at a well-established payments firm to pursue his vision for Tebi. He recognized that while his former company focused on large enterprises, there was a significant opportunity to cater to the needs of smaller businesses. Schuijff stated, “Building a product for SMBs was better done outside the context of my previous company.” This strategic pivot allowed him to channel his passion for coding and innovation into a new venture.
The Birth of Tebi
The idea for Tebi emerged during the COVID-19 lockdown when Schuijff sought to simplify tax reporting for his favorite local bar. Drawing from his extensive experience in tech, he leveraged modern tools to create a platform that could provide real-time transaction updates, addressing a critical need in the hospitality sector.
Building a Strong Team
To ensure Tebi’s success, Schuijff assembled a talented team, including former executives from his previous company and other tech firms. This diverse group brings a wealth of experience in technology and business strategy, allowing Tebi to focus on both product development and market expansion.
Expansion Plans and Funding
With the recent funding boost, Tebi is poised for significant growth. The company has already established a presence in the Netherlands, where it reports substantial transaction volumes. Plans are underway to expand into the U.K. market and beyond, with aspirations to serve multiple countries in the coming years.
The investment from CapitalG, alongside previous funding rounds, will not only support Tebi’s geographical expansion but also enhance its platform with advanced AI features. Schuijff envisions a future where Tebi’s all-in-one solution evolves into an AI-driven platform that empowers business owners to optimize their operations.
Conclusion
Tebi’s journey is just beginning, but with a clear vision, a strong team, and substantial backing, it is well-positioned to make a lasting impact on the hospitality industry. As the company continues to innovate and expand, it aims to redefine how local businesses manage their operations, ultimately contributing to their success in an increasingly competitive market.