Orderyoyo raises €5.4 million in Series A round

Denmark Investments 28 March 2018
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Orderyoyo, a Copenhagen, Denmark-based company providing white-label software for the restaurants, announced securing €5.4M ($6.6M) in capital investment.

The backers include new and exisiting local investors, namely Vaekstfonden, SEED Capital and angels Preben Damgaard and Jesper Johansen.

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.