Elkstone Leads €2m Flipdish Fundraiser

13 Jul 2018 | 09.55 am

Elkstone Leads €2m Flipdish Fundraiser

Irish startup builds apps and websites for restaurants

13 Jul 2018 | 09.55 am

Irish app developer Flipdish has closed a €2m funding round led by Elkstone. The 2015 startup designs, builds and operates own-label food ordering apps and websites for restaurants and takeaways.

Flipdish’s founders are brothers Conor and James McCarthy. They increased their staff complement from eight to 20 in the last 12 months and are planning to employ a further 10 employees in the coming months.

More than 500 stores are using Flipdish’s apps and online platform in Ireland. It also has 100 UK stores on its books. Clients include Freshly Chopped, Centra and Londis.

Flipdish’s online ordering platform, apps and websites can be branded under each client’s own name. The Flipdish platform also provides data on customer interactions and behaviours.

“This investment will make significant improvements to the existing Flipdish product to help restaurants succeed online, while also extending the product offering into six additional European countries,” said chief executive Conor McCarthy.

Flipdish previously raised more than €700,000 since launching. Investors include Enterprise Ireland (€250,000) and Growing Capital (€125,000).

In the year to March 2017, Flipdish’s operating company, Prandium Limited, booked a loss of €146,000. The firm’s debtor book was €48,000 and it closed the year out with net assets of €249,000.

Elkstone Partners is a multi-family office group based in Dublin. Other companies in its investment portfolio include Jobbio, Soapbox Labs and SalesOptimize.

Declan Magee, head of venture at Elkstone, said that Flipdish’s founders have built  a great product with strong traction in the local market. “This funding round will lead the sales roll-out into Europe, along with further product development,” he added.


Photo: James McCarthy (left) and Conor McCarthy

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