Currently with headquarters in Amsterdam, a startup with 35 employees, TEBI helps restaurants, bars and other hotel corporations to administer its activities with a subscription platform, which may support payments, reservations, wrestling and many others.
This signifies that TEBI has a wealth of competitors, from POS systems to the booking platform and solutions based on reserve optimization evaluation. But he hopes that he’ll have an advantage, combining it with functions and prices at the company level.
For an abnormal observer, this appears to be something that Adaen could do. Schuijff said, nonetheless, that, taking into account his company, building a product for small margins was higher done outside. “It was a much more logical step for me than trying to do it in the context of Adaen.”
However, Tebi was not speculated to fill the gap left by Adaen. It was also not speculated to find the new role of Schuijff, who remained in his role CTO after IPO 2018 He made him a billionaireAt least on paper. “My movement was really positive. I didn’t have to go. I still enjoyed my work,” he recalled.
However, he lacked coding; And this impulse to the code was how Tebi was born. During Lockdown, Schuijff decided to go to his try to facilitate his favorite tax service bar (VAT) and other problems with reporting again.
At the technology level, it was much like the accounting platform, which he built for Adaen, and earlier for Bibite, which then belonged to RBS Worldpay acquired in 2004. But by 2020 Schuijff had more tools at his disposal. Using the stream transmission, he was capable of handle immediate transaction updates – and it caught it.
From the side project to the company
Although this is not the case in the Netherlands yet: “You see a move towards tax departments requiring immediate reporting of hotel enterprises when sales are happening,” said Schuijff. But more generally he saw the need for less manual reconciliation. This was also confirmed by the owner of the Mazdaka Bar Nasori, who became one of the five co -founders of TEBI.
Ultimately, Schuijff said that the general director of Adaen, Pieter van der, or left to focus on the full -time tebi. But his goal was to not build one other Bibite or Adaen, and it is still not. “This is how I was inspired by coding and the possibility of contributing to society in a different way, helping many local business owners,” said Schuijff Techcrunch.
As the general director of TEBI, the role of Schuijff is not associated with a lot of programming, and irony is not lost to him. “I miss coding, but then I realized that I could increase the value and increase the chances of Tebi’s success, doing what the general director should do, which builds a team and many other aspects, helping in the strategy and all this.”
One of this stuff is sales. When he goes out or drinks, Schuijff cannot refrain from talking to the owners about their pain points, checking what they use and introduce tebi. “I think I do them a favor,” he laughed.
Despite this, the combination of forces with former technology Adaen EVP Roba Vonka as Cto Tebi created for a heavy technology team that required balance, said Schuijff. So he also employed Aki Tas as an operational director, who was previously the head of the business strategy and operation in the concept, and recruited Patrick Studette as CCO, earlier COO in Wolt. “Now we were able to level the boat and start more on the commercial website and on the expansion side.”
Funds for expansion
After applying a hyperlox approach to implementation, TEBI is now available in the Netherlands, where he says that buyers are already processing nine numbers of payments on the platform every 12 months. With open roles in Amsterdam and London and plans to double employment by the end of the 12 months, the next step is to begin service of the British market, and then “many countries in the coming years,” said Schuijff.
This implementation will likely be supported by financing. Eight months after lifting Series A 20 million € conducted by index projects (roughly $ 22 million), Now closed EUR 30 million investments (about 34 million USD), managed by Capitalg, the Google Parent Alphabet Growth Fund, with the participation of the index, brings complete financing to EUR 56 million (about 64 million USD).
Although with its registered office in San Francisco Partner Capitalg Alex Nichols is an investor based on the thesis, which also has Europe on his radar. He recently led the contract to the Belgian Odoo startup, which joined the portfolio, including Monzo and Pennylane. He was looking for tebi after observing that European marriage mussels are underestimated by the cost -oriented payment solutions dominated by the bank.
“This configuration is very similar to the American market 15 years ago, before the increase in payments imprisoned by the software reduced the bank’s share to less than 30%,” said TechCrunch in a written commentary.
The proven fact that Nichols conducted his research eventually won Capital, in addition to all “contact points” between the properties of Tebi and Alphabet, akin to Android, Gemini, Google Cloud and Google Maps. “We were not looking for an investment, but we thought: yes, they bring much more than just money,” said Schuijff.
The money in query will finance greater than the international expansion of TEBI. It may even allow him so as to add more artificial intelligence functions, in addition to what has already been implemented to mechanically download the menu, visual identity and booking. “Future vision,” said Schuijff, is that in addition to the platform, one in one will likely be “AI platform, which will help you better run the company.”
Building this vision and the extension throughout Europe for a moment accepts TEBI bandwidth. But then and “as soon as we are convinced that we can get a significant part of the market”, the extension in the US is in cards.