Amsterdam-based fintech startup Tebi, founded by a former Adyen co-founder, has raised €30 million in a Series B funding round. The round was led by CapitalG, the growth investment fund of Alphabet (Google's parent company), with participation from existing investor Index Ventures. This brings Tebi's total funding to €50 million.
Tebi provides an all-in-one subscription-based platform for restaurants and hospitality businesses, managing payments, reservations, inventory, and more. The company aims to differentiate itself from competitors by offering enterprise-level functionalities and pricing, consolidating various operational tools into a single platform.
The newly secured funding will fuel Tebi's international expansion, beginning with the UK market, followed by other European countries. Additionally, the investment will support the development of enhanced AI features within the platform to further optimize business operations for its users. Tebi currently employs 35 people and processes nine figures of payments annually in the Netherlands.
The investment from CapitalG highlights the growing need for integrated solutions in the European hospitality sector, particularly for small and medium-sized businesses. CapitalG's partner, Alex Nichols, cited the underserved nature of European SMBs by existing payment solutions as a key driver for the investment.
