Tebi Secures $30M Investment Led by CapitalG to Revolutionize Hospitality Management

Adyen cofounder Arnout Schuijff’s new venture, Tebi, has secured $30 million in funding led by CapitalG, Alphabet’s growth fund, with participation from Index Ventures. This investment will fuel Tebi’s expansion and enhance its AI capabilities in the hospitality sector.

Amsterdam-based Tebi offers an all-in-one subscription-based platform that helps restaurants, bars, and other hospitality businesses manage their operations, including payments, reservations, inventory, and more. With 35 employees, Tebi aims to differentiate itself through enterprise-level functionalities and pricing, despite a competitive landscape.

Schuijff explained that building a product for SMBs was more logical outside of Adyen’s enterprise focus. His passion for coding during the Covid lockdown led to the creation of Tebi, initially designed to simplify VAT and reporting for his favorite bar.

Tebi’s platform provides instant transaction updates, similar to accounting systems Schuijff developed for Adyen and Bibit (later acquired by Worldpay). Co-founder Mazdak Nasori, a bar owner, validated the need for less manual reconciliation work.

While Schuijff misses coding as Tebi’s CEO, he focuses on team building, strategy, and sales. He often engages with restaurant owners, introducing Tebi and gathering feedback.

Tebi’s team includes former Adyen EVP Technology Rob Vonk as CTO, Aki Tas (ex-Notion) as COO, and Patrick Studeneer (ex-Wolt) as CCO, balancing the company’s tech and commercial aspects.

Currently available across the Netherlands, Tebi plans to use the new funding to expand into the U.K. and other countries. Merchants on the platform already process nine figures annually in payments.

CapitalG’s investment reflects a belief in the underserved European SMB market. Partner Alex Nichols noted that European SMBs face costly, bank-dominated payment solutions, similar to the U.S. market 15 years ago before software-embedded payments became prevalent.

Beyond international expansion, Tebi will invest in AI features to automate onboarding, including pulling menu, visual identity, and reservation settings. Schuijff envisions an AI platform that will further optimize business operations.

A U.S. expansion is planned once Tebi establishes a significant market share in Europe.