Tebi, a startup focused on providing an all-in-one operational platform for retail and hospitality sectors, has successfully raised €20 million in its Series A funding round, led by Index Ventures. This marks the company’s first institutional investment since its inception three years ago and underscores its significant growth trajectory.

Founded by a team of technical experts from Adyen, one of Europe’s leading fintech companies, Tebi aims to replace disparate solutions with a cohesive, mobile-first platform designed specifically for independent businesses. The platform is built on a robust accounting backbone, offering a user-friendly experience akin to consumer apps, thereby addressing the unique needs of small business owners.

With a mission to empower independent cafes, shops, and restaurants, Tebi is committed to transparent, success-based pricing. Currently, the company supports hundreds of merchants who collectively process over €100 million annually, with non-founder employees owning over 15% of the company.

Addressing Industry Challenges

Tebi’s CEO, Arnout Schuijff, who previously served as the CTO of Adyen, has long recognized the challenges faced by independent businesses in the hospitality sector. Frustrated by the inadequacies of existing technology solutions, Schuijff started developing a sales app for a friend’s bar in 2012. This initial effort has evolved into Tebi, which now provides a comprehensive platform for financial operations.

“Hospitality and retail businesses breathe life into our communities. However, when it comes to technology, they often find themselves without a genuine partner who truly understands their requirements,” Schuijff stated. “Our aim is to eliminate the frustration of juggling multiple, overpriced contracts for underperforming software. Instead, Tebi offers a single, intuitive platform that simplifies operations for business owners.”

User-Centric Design and Functionality

Tebi’s mobile-first platform includes a range of essential features such as point of sale (POS), integrated payments, inventory management, a kitchen display system, reservations, QR ordering, and bookkeeping. This unified approach is underpinned by a single codebase that supports both server and mobile applications, enabling rapid iterations and feature enhancements based on user feedback.

Xander Waller, an experienced hospitality operator in Amsterdam, has expressed his satisfaction with Tebi’s ease of use. “It’s incredibly intuitive,” Waller remarked. “From the maitre d’ to the chef, everyone can navigate the system without any hassle, which is crucial in the fast-paced environment of a restaurant. With Tebi, there’s a clear understanding of revenue flow and operational efficiency.”

Simplifying Entrepreneurship

Schuijff emphasizes the importance of making technology accessible to aspiring entrepreneurs. “Today, anyone can launch a business using just their smartphone. Managing orders, payments, and real-time revenue tracking has never been easier,” he noted. “However, Tebi's true value lies in its ability to seamlessly integrate complex multi-location operations while providing real-time insights.”

The startup’s unique pricing model aligns with the revenue of its users, making it an attractive option for businesses of varying sizes. The Tebi App is free for those whose revenue remains below a specified threshold, and the platform does not impose additional charges for extra devices, users, or locations.

Future Growth and Expansion Plans

With the recent funding, Tebi aims to accelerate product development and extend its reach beyond the Netherlands to serve independent businesses globally. Currently employing 30 people at its Amsterdam headquarters, the company plans to expand its team and diversify its product offerings beyond the hospitality and retail sectors.

Schuijff acknowledges the importance of the independent sector, particularly in light of the challenges faced during the COVID-19 pandemic. “The lockdowns brought to light how vital cafes and bars are to our communities. Our goal is to equip these businesses with the tools they need to thrive. We aspire to be the operational partner for independent businesses, enabling them to make informed decisions daily and fostering their creative passions.”

Tebi is poised to redefine the operational landscape for independent hospitality and retail businesses with its innovative platform. By leveraging its expertise and the insights gained from years at Adyen, the company is dedicated to providing the resources necessary for small businesses to succeed in an increasingly competitive market. The successful €20 million Series A funding round from Index Ventures represents a significant milestone in Tebi’s journey, paving the way for future innovations and expansions.

For independent businesses seeking a comprehensive operational solution, Tebi stands ready to meet their needs and help them flourish in a challenging economic environment.