Last.app, a Barcelona-based startup founded by former Glovo Eric and Ivan Nikolic that develops software to simplify the day-to-day operations and management of restaurants, has announced the closing a 2.2 million euros funding round. This financing round main objective is to boost the company’s growth, as well as to expand its workforce. The round was led by All Iron Ventures, with support from Bynd and several prime level Spanish business angels.
Last.app develops and markets software that makes easier to manage hospitality sector businesses (restaurants, restaurant chains, dark kitchens and other establishments). The only management ecosystem for restaurants that adapts to the reality of the sector thanks to its multi-platform capabilities (Android, iOS and Windows) all in one: POS, delivery integrator, online shop, among other features. Last.app is already present in more than 80 cities in Spain and its client portfolio includes prestigious chains such as PadThaiWok, Tony Roma’s, Carl’ s Jr and Miss Sushi, and others.
“With this round we begin a new phase, whose main mission will be to mass-market an ecosystem of unique and in continuous improvement tools in the market. The current focus is Spain, but once the foundations for growth have been laid out, we will replicate the model in other countries”, says Eric Nikolic, co-founder and CEO of Last.app.
The financing round has been led by All Iron Ventures with participation of the Portuguese venture capital fund Bynd and accompanied by business angels in Spain, who provide great value, including Hugo Arévalo co-founder of ThePowerMBA, Iñaki Ecenarro co-founder of Trovit, Albert Armengol co-founder of Doctoralia, and Gonzalo Manrique, co-founder of Ironhack.
“When we met Eric and his team, we were amazed to see how their full stack cloud platform allows restaurants to maximize their operations and efficiency while simplifying their implementation. Thanks to a unique and constantly evolving product, they have managed to get some of the leading restaurant chains operating in Spain to entrust the management of their entire business to them, and with excellent results,” said Hugo Fdez-Mardomingo, partner and co-CEO of All Iron Ventures.
Boosting a growth strategy
Last.app intends with this funding to strengthen its position on the Spanish market and expand its business to other international markets by replicating its successful model outside Spain. Last.app wants to consolidate its position as the best technological ally for restaurants, providing them with a flexible solution that offers options to restaurants to deal with any scenario, such as the restrictions imposed by COVID-19. Thanks to this new funding, the company will boost its growth strategy and expand its staff in the of technology, customer service, sales and marketing areas.
Last.app’s goal is to accelerate the technological revolution in the hospitality industry for the restaurants to transform the way they operate, automate their processes and make their daily business easier. All this with state-of-the-art technological tools, at a competitive price point and in a flexible way.
The company will use effectively and efficiently these new resources to increase revenue through scalable sales and marketing strategies. In addition, Last.app also plans to grow its product portfolio and enhance the current platform, always adding new features with a clear focus on the real needs of the industry.
“This funding allows us to expand the products and functionalities we offer, so any restaurant can compete at the same level as a multinational”, says Ivan Nikolic, co- founder of Last.app.