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SERENA CAPITAL AND PARTECH INVEST €8 MILLION IN ELTENEDOR.ES AND VALUES THE COMPANY AT €40 MILLION.
The French-Spanish company LaFourchette-ElTenedor has received €8 million funding from venture capital firms Serena Capital and Partech International in exchange for 20% of the online platform of booking restaurants in Europe. The round values the company co-founded and directed by Marcos Alves at about €40 million.
Alves says having trusted Serena Capital and Partech, by personality and entrepreneurial profile of its partners, and its experience in development at international level. With funds raised the company trust in maintaining growth. Its business model allows to offer discounts of up to 50% at any restaurant in the list.
The company has achieved a €10 million turnover in five years and its smartphone software is having a great host. In 2011, eltenedor.es contributed €100 million for its partner restaurants (over 11,000 in the three countries), having surpassed the €8 million reservations through the website and applications. LaFourchette-ElTenedor expects to exceed €500 million turnover within three years.
The startup was founded in 2006 under the name lafourchette by four young entrepreneurs: the Spanish, Marcos Alves, Patrick Dalsace, Bertrand Jelensperger and Denis Fayolle. In 2007, Alves together with Darío Méndez and Alejandro Lorenzo, founded eltenedor.es for Spain.
This is the fourth financing round carried out by the company, the last recently in June 2011 in which Otium Capital (Smart&Co Ventures) invested €3.3 million (see news).
Serena Capital is a venture capital firm based in Paris specialized in the early growth capital rounds of between €3 and €8 million investments in Internet and media, software, telecommunications, mobile, consumer electronics and IT services. Its main focus is in France.
Partech International, based in Paris and Silicon Valley, has invested in over 100 companies since its founding in 1982. They specialize in investments in early and mid-stage Internet services, e-commerce, social and digital media, ICT and energy optimization. They lead or co-invest in rounds between €10 and €12 million.
Download free the 2011 Venture Capital in Spain report (Spanish language), with the main figures and details of 246 deals. Also free access to 2010 VC report (Spanish language).