Flipdish, a Dublin-based food ordering and loyalty platform, has recently raised $40 million in funding to support its global expansion plans. With this significant investment, Flipdish aims to enhance its technology and expand its presence worldwide, offering restaurants and consumers an improved and seamless ordering experience. Discover more about Flipdish’s exciting growth plans and how they plan to transform the food delivery industry.
Introduction to Flipdish
Flipdish is a Dublin-based online food ordering and delivery platform that allows independent restaurants and chains to take orders directly from customers. The company was founded in 2015 by Conor McCarthy and James McCarthy and has quickly become one of the fastest-growing food-tech companies in Europe. Flipdish’s goal is to help restaurants take control of their online ordering and delivery channels and reduce their reliance on third-party platforms such as Uber Eats and Eat.
The $40M funding round
In February 2021, Flipdish announced that it had raised $40M in a funding round led by global venture capital firm Insight Partners. The funding round also included participation from previous investors, including Elkstone Capital and Enterprise Ireland. The new funding will accelerate Flipdish’s global expansion and invest in product development and customer support.
Flipdish operates in over 15 countries, including the UK, Ireland, Spain, France, Germany, and the US. With the new funding, Flipdish plans to expand into new markets, particularly in the US and Asia. The company also plans to increase its workforce by hiring over 200 employees across its Dublin, London, Barcelona, and Berlin offices.
Importance of the online ordering market
The online ordering market has seen tremendous growth in recent years, with the COVID-19 pandemic accelerating; according to a report by ResearchAndMarkets, the global online food delivery market is expected to reach $154.3 billion by 2023, growing at a CAGR of 10.4% between 2018 and 2023. Flipdish’s platform enables restaurants to take control of their online ordering and delivery channels and reduce their reliance on third-party platforms. It is becoming increasingly crucial as restaurants look to increase their profitability and reduce their dependence on third-party platforms.
Competitors in the online ordering space
Flipdish faces stiff competition from other online food ordering and delivery platforms such as Uber Eats, Eat, and Deliveroo. However, unlike its competitors, Flipdish does not take a commission on orders and allows restaurants more control over their online ordering and delivery channels. It has proven a significant selling point for restaurants looking to reduce their reliance on third-party platforms.
Flipdish’s unique selling proposition
Flipdish’s unique selling proposition is its ability to provide a white-label solution for restaurants that allows them to take control of their online ordering and delivery channels. The platform also offers a range of features, including marketing tools, loyalty programs, and data analytics, to help restaurants increase their profitability and reduce their reliance on third-party platforms. Flipdish also provides a suite of APIs that enable restaurants to integrate their ordering platform with their existing systems, such as POS and kitchen management systems.
The future outlook for Flipdish
Flipdish’s $40M funding round is a testament to the company’s rapid growth and success in online ordering and delivery. With the new funding, the company can accelerate its global expansion and cement its online ordering and delivery leader position. As more restaurants look to control their online order and delivery channels, Flipdish’s unique selling proposition will likely become even more valuable, making it a strong player in the food tech industry for years to come.