80 percent of restaurants fail within five years. Munchfam has secured €600K to change this
Running a restaurant is not easy. There’s over 1 million restaurants in the EU. 60 per cent of new restaurants fail in their first year of operation. 80 per cent in their first five. Competition is fierce with small profit margins. This means that restaurants need to be able to adapt and find revenue wherever they can. This is where Munchfam can help.
Munchfam is changing the way restaurants operate, offering a unique service platform that combines cutting-edge digital tools, plug ‘n’ play brands, and high-quality ingredients. These solutions empower restaurants to thrive across all sales channels—whether dine-in, delivery, or takeout—while enhancing efficiency and profitability.
Munchfam was founded in Finland by Pertti Kallioinen, Wei Zhou, Henri Auvinen and Sauli Lehtovaara. They have a combined 50+ years of experience in the restaurant industry and service business development in the EU, Australia and Silicon Valley USA.
Munchfarm team members have built and run their own restaurant chains and have firsthand knowledge of how the game has changed for restaurants as more customers have moved online to order instead of dining at the restaurant. Munchfam’s service enables restaurants to thrive in this new era and easily tackle this new challenge.
Pitchdrive (Belgium) and Genesis (Greece) led the funding round.
Nordic Makers, Founders Edge and former and current management of Wolt, JustEat, Food Panda, and Bolt previously backed the company.
“We are thrilled to have the backing of great investors like Pitchdrive and Genesis among others,” said Pertti Kalloinen, CEO of Munchfam.
“Their support underscores the value of our vision and accelerates our mission to transform the restaurant industry. I’ve built and run my own restaurant chains before. I know how hard it is to run a restaurant and I wanted to build a service for restaurants that helps them to survive and thrive. Something that I would have wanted to take into use in my restaurants.”
With this new capital injection, Munchfam plans to continue to scale and develop the service platform in its current markets (Finland, Germany, Denmark and Sweden), bringing even more innovation to restaurants.
Lead image: Munchgfam. Photo: uncredited.
By Tech.eu
Source: Tech.eu