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Home / Tech / Tebi, the new startup by Adyen’s departed cofounder, raises a fresh $30M from Alphabet’s CapitalG

Tebi, the new startup by Adyen’s departed cofounder, raises a fresh $30M from Alphabet’s CapitalG

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The Dutch payment company is now accurately a market for more than $ 61 billion, but this did not stop its founder Arnot Shujaf from Stem In 2021 to focus on its new start, for you.

Now, Tebi helps Fintech in Amsterdam with 35 employees, and TEBI helps restaurants, bars and other hospitality work in managing its operations through a platform that depends on the whole subscription in one that can deal with payments, reservations, stocks and more.

This means that Tebi has a wealth of competitors, from POS systems to reservation and solutions that depend on analyzes to improve inventory. But it hopes to get a feature by linking this matter with the functions of the institution and pricing.

To an unofficial observer, this seems something that I could do. But given its focus on the institution, building a product for small and medium -sized companies was better than abroad, Shawwaf said. “This was a much more logical step for me than trying to do this in a condemned context.”

However, the intended from Tebi was not filling a gap he left. He was not supposed to find a new role for Zawaf, who remained in his role in CTO after the 2018 subscription MakeAt least on paper. “My movement was really positive. I didn’t need to go. I was still enjoying my work.”

What he was missing, though, was coding. This motivation to the code is how Tebi was born. While Covid insurance, Schuijf decided to reconsider his attempt to facilitate his favorite tape to deal with VAT tax (VAT) and other reports troubles.

At the level of technology, this was similar to the accounting platform that he built for Adyen, and before that, for BIBIT, which RBS owned after that WorldPay acquired In 2004. But by 2020, Shawigv had more tools at his disposal. Using broadcasts, he was able to support instant transactions updates – and hold it.

From the side project to the company

Although this is not the case in the Netherlands yet, “you see a step towards the tax departments that require hospitality companies to report immediately when the sale occurs,” Shawwaf said. But in general, he saw the need for less handicrafts. This was also confirmed by lawyer Mazdak Nasuri, who became one of the five founders of Tebi.

In the end, Shuwavv, CEO of Edin Peter Van Dyer, told Shibi to focus on TEBI full -time. But his goal was not another BIBIT or Adyen building, and still is not. “I was completely inspired by coding and the opportunity to contribute to something in society in another way by helping many local business owners,” Chccrunch told Techcrunch.

As the CEO of Tebi, the role of Schuijf does not involve much programming, and the paradox is not lost. “I lack the coding, but then I discovered that I can add more value and increase the chances of success in Tebi by doing what the CEO is supposed to do, who builds the team and many other aspects, and help in the strategy and all these things.”

One of these things is sales. When he goes out to eat or drink a drink, Oujaf cannot help talk to the owners about their pain points, check what they use, and provide Tebi. “I consider that I am almost known to them,” I laughed.

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However, joining the former ADYEN EVP technology in the role of Tebi made by CTO for a heavy technology team needs a balance. So he also assigned Aki Tas as COO, who was previously head of business and operations strategy in an idea, and recruited Patrick Studner, as CCO, COO previously in Wolt. “We are now able to settle the boat and start focusing more on the commercial side and the expansion side.”

It means expansion

After using the hyperpocrisy approach, Tebi is now available through the Netherlands, saying that merchants are already processing nine numbers of payments annually on the platform. Shawwaf said that with open roles in Amsterdam and London and plans to double the number of employees at the end of the year, his next step is to start serving the UK market, followed by “many countries in the coming years.”

This offer will be supported by financing. Eight months after lift a 20 million euros series a Leading index projects (almost 22 million dollarsTEBI has now closed an investment of 30 million euros (about $ 34 million) led by Capitalg, the Google Parent Alphabet, with the participation of the index, and reaches its total financing to 56 million euros (about 64 million dollars).

Although Alex Nichols, the San Francisco -based Capitalg partner, is a truly paid investor in his radar. He recently led a deal to the start of the Belgian ODO ODO, which joined a portfolio that already includes Monzo and Pennylane. He sought TEBI after noticing that European SMBS is deprived with costly payment solutions to the bank.

He told Techcrunch in a written comment: “This preparation is closely like the American market 15 years ago before the alleged software payments appear to reduce the bank’s share to less than 30 %.”

Nichols has performed his research, which eventually won the deal, as well as all “touch points” between the properties of Tebi and Alphabet such as Android, Gemini, Google Cloud and Google Maps. “We were not looking for an investment, but we thought, yes, this brings more than just money,” said Shawaff.

The funds concerned will be funded more than the expansion of the International Tebi. It will also be allowed to add more artificial intelligence features, as well as what has already been implemented on board to withdraw the list, automatic visible identity and reservation settings. “Future Vision,” Shawigv said, that, in addition to the platform of everyone in one, there will be “an Amnesty International platform that will help you run your business better.”

The construction of this vision and expansion throughout Europe will take the frequency range in Tebi for a while. But after that, and “once we are confident that we can get a large part of the market there,” there is an expansion in the United States in the cards.

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