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Portuguese Startup Pleez Raises $2 Million Investment and Wants to Attract 60 People

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Pleez was created in the midst of a pandemic with an algorithm for restaurants and delivery services

DR

Pleez was created in the midst of a pandemic with an algorithm for restaurants and delivery services

DR

Portuguese startup Pleez has closed another funding round. This time, a company that provides sales optimization services for restaurants and delivery platforms has raised an investment of two million euros in the Serie A round🇧🇷 This round comes a few months after a €1.5 million loan in April that allowed the company to enter the Spanish market.

This new round was led by Portuguese venture capital firm Lince Capital and also included German funds Atlantic Food Labs and Axel Springer Porsche, who were already investors in the startup. The amount raised will allow Pleez to double its team from 30 to 60 people in 2023 and “strengthen its presence in the Iberian market,” the company said in a statement.

The company was born in 2020, in the midst of a pandemic that significantly shook the food delivery market. A startup created by Afonso Pinheiro and Vasco Sampaio has developed a technological solution to increase and optimize restaurant sales that offers the service of active restaurant menu management on delivery platforms such as Glovo or Uber Eats.

The founders of Coverflex receive the João Vasconcelos award and become “Entrepreneurs of the Year”.

The algorithm developed by Pleez collects information available on delivery platforms and in the restaurant itself, and also adds information about competitors to this “recipe”. The statement explains that an extensive analysis is being carried out, which, in addition to this information, also includes “relevant external factors such as, for example, weather conditions, day of the week, time of year and others.” After all, the idea is to determine when and how certain items or dishes from a restaurant’s menu should be presented to customers on platforms in an attempt to optimize sales.

In addition, the company explains, “restaurants have access to a tool that provides comprehensive market information in one place, and each restaurant has its own client area where they can access their sales data and make forecasts, measure the impact of dynamic changes . menu changes or receive market information about prices and promotions from competitors.”

According to the figures provided by the company, the process, carried out in real time and continuously, allows you to increase sales margins and total sales. It is said that “the implementation of Pleez solutions has allowed member restaurants to increase their sales by approximately 15%, and this growth will be even greater in the medium and long term.” In half a year, Pleez processed 72,000 orders per month and currently has a portfolio of over 300 clients.

“We are very pleased and proud to have attracted Lince Capital, the first Portuguese investment group to join us,” comments Afonso Pinheiro, co-founder of Pleez, on this investment round. “Looking to the future, we are confident that this new round of investment will help us in our internationalization process to help all food service players make better decisions about their business.”

Vasco Pereira Coutinho, CEO of Lince Capital, explains in the same statement that “the pandemic has boosted the use of platforms such as Uber Eats, Glovo or Bolt Food and restaurants have significantly increased sales through Delivery🇧🇷

Source: Observador

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