Dutch fintech start-up Tebi has recently announced that it has secured €20 million in a Series A funding round. The funding was led by UK VC firm Index Ventures, showcasing the growing interest in the company’s innovative financial platform.
Founded in 2021 by entrepreneurs such as Adyen co-founder and ex-CTO Arnout Schuijff, who now serves as Tebi’s CEO, and former Adyen EVP of Technology Rob Vonk, who is Tebi’s CTO, the start-up has been making waves in the industry. Tebi’s focus is on providing tailored financial solutions for independent hospitality and retail businesses.
One of the key features of Tebi’s platform is its mobile-first approach, offering a range of tools for reservations, inventory management, QR ordering, bookkeeping, and integrated point-of-sale and payment capabilities. The company prides itself on offering a comprehensive solution built on a solid accounting backbone, ensuring that users have a single source of truth for their financial data.
According to Schuijff, the current business landscape allows for the easy establishment of businesses using just a smartphone, without the need for complex hardware or software. The Tebi app simplifies tasks such as taking orders, processing payments, managing stock, and tracking revenue across multiple locations, all with just a few taps on a smartphone. This ease of use significantly reduces the barriers to entrepreneurship and opens up new possibilities for small business owners.
In addition to its user-friendly approach, Tebi also offers revenue-based pricing, making the app accessible to businesses below a certain revenue threshold at no cost. There are also no extra charges for additional devices, users, or locations, making it an attractive option for businesses of all sizes.
Looking ahead, Tebi plans to use the funds from its Series A round to expand its operations beyond the Netherlands. With a current team of 30 employees at its Amsterdam headquarters, the company aims to grow its workforce and enhance its product offerings. By bringing enterprise-level capabilities to independent businesses while maintaining a consumer-friendly experience, Tebi is poised to make a significant impact in the fintech industry.