The Berlin developers of a cash register system for the catering industry now also want to offer financial services. Investors help with a million amount.
In order to develop new offers for the gastronomy, the start-up Orderbird from Berlin has secured a million-dollar financing. For the exact amount of investment in the Series D round, the company did not provide any information on request of WirtschaftsWoche founder.
The fresh capital for the developers of a POS system comes in part from existing investors, to which Carsten Maschmeyers investment fund Alstin belongs. The investment company of Max Iann and a family office. In addition, the young company receives a seven-digit loan from Deutsche Handelsbank.
Orderbird is developing a mobile cash register system for restaurants, bars and cafes that runs on the iPad or iPhone, for example. Using the software, orders can be taken directly at the table and billed. Founded in 2011, the startup now has 110 employees in Berlin and Vienna. The management expects a valuation of around 60 million euros.
Value adjustment in November
In 2016, there was a hefty cash injection with 20 million euros, including FinTech investor Digital + Partners, the retailer Metro and financial services provider Concardis from Eschborn. However, due to continuing losses, Concardis already reduced the value of its stake by half in 2017, the Infoportalreported in November.
With the new financing, the start-up wants to prepare itself for the future and open up further business areas: Orderbird is working on concepts for its own bank in order to be able to offer financial services to the catering industry in the future – for example, microcredits or a bank account tailored to the sector.
The Berlin start-up is also changing in terms of personnel: Co-Managing Director Mark Schoen joins the board of directors. The new Chief Supervisor of the listed company will be Oliver Kaltner, former CEO of Vectron Systems – a provider of cash register software from Münster. Previously, Kaltner was managing director of the camera manufacturer Leica. His predecessor as Chairman of Orderbird, Carlo Kölzer, remains on the board.