Orderyoyo raises €5.4 million in Series A round
Orderyoyo, a Copenhagen, Denmark-based company providing white-label software for the restaurants, announced securing €5.4M ($6.6M) in capital investment.
Orderyoyo was founded in 2014 by Thor Angelo and Thomas Paulsen and delivers customized websites or plug-ins to existing websites and android or IOS apps for the restaurants. The two founders left from the premise that 80% of the orders from take-away restaurants came from returning customers, mostly ordering the same thing from the menu. As such, they developed a digital solution for restaurants that would replace the need of working with aggregators, and paying them a 20% cut.
The company's product is used by around 2000 customers from Denmark, England, Ireland and Germany and tripled its revenues from 2016 to 2017.