Zenchef, the Paris-based company with an all-in-one marketing SaaS platform that helps restaurants attract customers and increase loyalty, announced that it has raised over €50M in a new round of funding.
The investment from PSG Equity, a growth equity firm that partners with software and technology-enabled services companies to help accelerate their growth and build scale across Europe and the US.
Zenchef’s SaaS solutions help restaurants manage their front-of-house activities such as booking reservations, website and menu management, marketing initiatives, click and collect, and mobile payments from a single platform. According to the company, these options make it easier for restaurant operators to boost business by lowering marketing costs, improving customer satisfaction, and increasing occupancy.
A strategic partnership for Zenchef’s European growth
With PSG’s support, Zenchef’s management team aims to accelerate its growth in Europe, notably through a sustained growth strategy and by developing new B2B and B2C products to further strengthen its position within the restaurant tech sector. This strategy, which began last year with the acquisition and integration of the startup Billee, enabling the launch of Zenchef Pay, a mobile payment solution for restaurant bills, is expected to expand this fall with the launch of Zenchef’s very first consumer mobile application. Dedicated to foodies, this free application will allow them to check in real time the availability of over 1,500 restaurants in Paris and to make reservations. It will include various features that are intended to make the user’s experience more enjoyable, such as a geolocation service, themed restaurant rankings, reviews, and many more features.
This application aims to serve as a launch pad for Zenchef to penetrate the mainstream foodie market and reinforce its commitment to restaurant owners by allowing them to have a closer relationship with their customers while also defending their independence thanks to the company’s distinguished zero-commission approach.
In an effort to capitalize on the growing market opportunities, Zenchef plans to increase its capacity significantly through an ambitious recruitment campaign in Europe.
“In a rapidly evolving restaurant market, we are delighted to begin a partnership with a restaurant tech leader and a company that is responsible and committed to restaurant owners,” said Charlotte Lawrence and Edward Hughes, Managing Directors of PSG. “With Zenchef, we believe we have identified not only one of the top software solutions on the market but also a scalable business with a strong brand and an ambitious and talented team that is particularly well respected by restaurant owners. Together, we believe these factors strategically position Zenchef to capitalize on the strong opportunities of the digitization of the restaurant industry.”
“We believe this partnership with PSG marks the beginning of a new chapter of growth and reaffirms both the relevance of our solutions and our strategic position within the restaurant industry,” added Xavier Zeitoun, Co-founder and CEO of Zenchef. “In PSG, we have found an ideal partner with a strong track record in accelerating growth for software companies. With their strategic, operational and financial support, we are solidifying our ambition to become Europe’s champion. In our view, PSG will enable us to identify the relevant synergies to better serve restaurant owners and their customers, and help us pursue our ambitious recruitment plan. With the upcoming launch of our first consumer mobile app, we are closer to fulfilling our mission to an industry that has been severely tested in recent years and to which we want to bring the best technological solutions.”
PSG’s team works hand-in-hand with founders and management teams to support them in their day-to-day strategic decisions, drawing from their strength in M&A and international expansion, especially in Europe and the U.S., while pursuing a sustained investment plan. Zenchef is PSG’s 8th platform investment in France and its 18th in Europe.
See the Press Release for more information.
