Digitizing restaurant customers: Prague-based Choice raised €2.3M and reports 300% growth
Elevating the Culinary World: Learn how Choice is empowering restaurants with innovative technologies that enhance customer engagement and efficient management.
Choice, a dynamic B2B SaaS venture catering to the culinary sector, recently celebrated a triumphant €2.3M capital infusion, propelling its total valuation to a commendable €3.8M.
Prague’s J&T Ventures spearheaded the investment landscape for this latest round, with continuing support from Reflex Capital and Presto Ventures.
We’re happy to continue supporting Choice, as we see their exponential growth and tremendous potential.
says Reflex Capital’s Ondrej Fryc.
This fresh financial boost is earmarked for expanding Choice’s services into four new markets within Central and Eastern Europe, while also fortifying its foothold in already thriving markets like Poland, Czechia, Slovakia, Hungary, and Ukraine. In just one year, the company has witnessed a 300% surge in growth, now serving eight countries.
Choice’s platform offers an all-encompassing online subscription service. It empowers any restaurant to launch a website and integrate all essential business tools in a unified system, from digital menus with QR code-based payments to reservation systems, CRM, and more.
The platform’s integration capabilities extend to popular POS systems and marketplaces like Wolt, Bolt, Glovo, Foodora, and Uber Eats.
What sets Choice apart is its ability to amalgamate all customer interaction channels onto a single platform underpinned by a unified client database. This enables restaurants to digitize approximately 80% of their customer base, gathering valuable data on preferences, visit frequency, and personal details.
99% of restaurants don’t know their customers.
says Alex Ilyash, CEO and founder of Choice.
This is a real challenge for restaurant owners because they don’t know who their most loyal guests are, how often they visit the restaurant, their preferences and allergies, or how many people stop visiting the restaurant and for what reasons.
Choice was created to help restaurants digitize their customer base and increase customer retention and satisfaction.
We can already see the positive impact of this digitization on the development of establishments in various European cities and how it allows us to improve their services.
Globally, Choice collaborates with over 16,000 restaurants and has 5,000 active paying clients on the platform. In 2023, Choice’s partner restaurants processed 2 million orders, amounting to $42M. The company’s MRR (monthly recurring revenue) stands at over $150,000, and it is ambitious to elevate this figure to $450,000 by the end of 2024.
We invested in Choice as we like the company’s excellent operations and strong founder who we believe can deliver on the ambitious vision in the upcoming months.
explains Adam Kocik, Managing Partner at J&T Ventures.
Furthermore, we’re convinced that Choice will win the market as it offers complex products that cover all restaurant needs, compared to competitive products that only focus on certain features.
This combination creates a distinguishing USP which makes Choice the number-one choice.
Choice’s toolkit spans an array of functionalities – website builder, front-store operations for takeaway and delivery, table reservation systems, QR code payments and orders, loyalty programs, and marketplace integrations.
POS and cash register systems primarily automate and digitize restaurant’s back-office operations, activities related to internal operations of the restaurant.
adds Alex Ilyash.
At Choice, we focus on covering everything related to the restaurant-and-guest communication, becoming their main solution for the front-office operations.
Choice integrates with and partners with POS systems, bridging the gap between the restaurant’s back-office and front-office operations. Subscription plans commence at a reasonable €23 per month, and restaurants can explore the platform’s capabilities with a free trial option.
The vision for Choice is to dominate the CEE region by 2024 and scale across Europe in the subsequent three years. With a team of 120+ specialists, Choice is not just about introducing modern technology to restaurateurs; it’s about empowering them to use these tools efficiently. The firm is actively recruiting sales and account management professionals in its expanding regions – Czechia, Slovakia, Hungary, Poland, Romania, Kazakhstan, Georgia, and Croatia.