What happened: Restaurant software provider allO launched financing products for its customers (allO). Restaurant owners can apply for financing up to 200,000 EUR with a revenue-based repayment method.
My comment: allO is an all-in-one software solution for restaurant owners that helps them run their business. The available features include taking customer orders, payment acceptance, reporting, and kitchen operation tools. allO closed a €5 million funding round last year led by 20VC and its General Partner Harry Stebbings explained his investment back then with “Restaurant software in Europe is broken. Restaurants have to juggle up to 10 different software products, which are fragmented, don’t speak to each other and severely hinder productivity and bottom line for restaurant owners”.
Perhaps the closest comparison to allO is the US provider and Embedded Finance role model, Toast. allO already offers payment features but is now extending its Embedded Finance product offering into lending. In partnership with Finmid, allO offers a revenue-based lending product which enables restaurant owners to apply for up to 200,000 EUR in financing. Since the restaurants already use allO for all their activity, no further documents or details need to be submitted with the funding request. The repayment is decided based on a percentage of daily sales. Such revenue-based lending products were very popular some time ago, but many providers have returned to more traditional lending models.
