Investment firm Tiger Global Management has invested €40 million in Irish digital food ordering solution Flipdish.
Tiger Global Management focusses on global internet, software, consumer-tech and fin-tech companies.
Flipdish said that Tiger Global Management's investment in its business will enable the digital food ordering solution "to grow its international footprint, continue to build a world class product for its restaurant partners and attract new customers from independents to large food chains."
Flipdish Co-Founder And CEO Statements
Flipdish co-founder and CEO Conor McCarthy stated, "The pandemic has brought home to restaurants how critical it is to build a direct digital relationship with their customers. Many are fed up of competing with the food delivery marketplaces for that customer relationship, drivers and real-estate and worry that they are planning to siphon away their customers by building a network of competing brands and virtual restaurants in their local area.
"We are delighted that with its deep domain expertise and intimate knowledge of the competitive landscape, Tiger Global has selected Flipdish as the best investment opportunity in this space in Europe. Flipdish's mission is to protect and power a diverse, independent food sector, and every cent of this investment will go towards realising that goal."
McCarthy added, "It's not just the hospitality industry that needs to deliver food and eliminate queues in a post-COVID world. Cinemas, stadia and airports are just a few examples of places that will be deploying our technology to keep consumers well-fed and safe."
Tiger Global Management Partner Statement
Meanwhile, partner at Tiger Global Management John Curtius commented, "Flipdish is the European leader in the restaurant tech market, powering thousands of restaurants and QSRs across the region. The investment fits our strategy of investing in high quality companies that are benefiting from powerful secular growth trends and are led by excellent management teams."
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