- Belgian startup Deliverect has raised a $65 million Series C from DST Global and Redpoint Ventures.
- Founded in 2018, Deliverect claims to have processed 30 million orders in 2020.
- Deliveroo, Uber Eats, Just Eat, and DoorDash all use the startup's services.
- See more stories on Insider's business page.
Delivery payments startup Deliverect has raised $65 million in its second funding round during the pandemic.
The Belgian startup connects the likes of Uber Eats , Deliveroo, DoorDash, and Just Eat directly to restaurants through its point-of-sale (POS) automation system. Deliverect, which was founded in 2018, claims to have processed 30 million orders last year.
Demand for delivery services has ballooned during the pandemic as lockdowns forced restaurants to pivot heavily toward takeaways.
Ghent-based Deliverect has raised the new funds in a Series C round led by Stripe backers DST Global Partners and Redpoint Ventrues.
The startup's CEO Zhong Xu said the company is averaging around a million order a week, which he claims is a 750% increase on April of last year.
"In such a short time we have created something essential," Xu said in an interview with Insider. "There has been a big transition from offline to online for restaurants and we provide the solution that connects the two."
Deliverect's solution integrates restaurants' POS systems to remove errors and help reduce the need for staff to monitor orders. The company estimates that this dramatically reduces the number of orders refuded by restaurants due to errors.
This round is Deliverect's second during the COVID-19 pandemic having also raised €16.3 million ($19.62 million) in a Series B funding round last April. The latest round brings Deliverect's total funding raised up to $88.95 million.
"We had a lot of interest," Xu added. "I think our vision and our mission is compelling, what we're building is essential and impactful for businesses."
Existing investors OMERS, Newion, and Smartfin also joined the latest funding round.
Deliverect works with more than 10,000 cloud and dark kitchens and restaurant chains in over 30 countries. The new funds will be used to fund further international expansion with a particular focus on the US, according to Xu. The startup's CEO also said the company's 200-strong headcount will expand rapidly off the back of the new round.
Check out Deliverect's pitch deck below:
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