Germany’s NeoTaste raises €5.9M for its marketing app to help restaurants engage with customers

Osnabrück-based NeoTaste, a restaurant-finding app that provides free marketing services for restaurateurs, has reportedly secured €5.9M in a Series A round of funding.

The German startup says it will use the funds to expand to more German cities, enter international markets, and introduce new products and services on its platform.

Investors in this round

The investment in the Germany-based startup was led by Burda Principal Investments (BPI), the growth capital arm of media and technology company Hubert Burda Media.

Existing investors such as Userlane founder Kajetan Uhlig and Flaschenpost co-founders and current CEOs Niklas Plath and Christopher Huesmann also participated in this round.

Friedrich von Wulffen, Investment Manager at BPI says, “The two founders and their lean team have developed an engaging product. The platform is highly appreciated by both consumers and restaurants.”

Julian von Eckartsberg, MD Europe at BPI adds, “NeoTaste has grown strongly in recent months and has been able to increase its turnover exponentially. This is a testament to their scalability and strong network effects, which not only make them an ideal partner for us but also shows us that expanding their offering into other German cities and the international market is the next logical step.”

Brief about NeoTaste

Founded in 2019 by Hendrik Sander and Tobias Düser, NeoTaste’s app connects customers and restaurants. It offers exclusive dining deals to users and helps restaurants engage with customers.

Currently, the app operates in 13 German cities with over 1,300 restaurants and 300,000 users.

Hendrik Sander says, “We are incredibly thrilled that BPI has joined us as the lead investor for our newest financing round. It is an absolute pleasure to have such a well-known and esteemed investor come on board at this early stage of our journey.”

“The vast expertise of BPI in creating exceptional consumer products, particularly in the realm of marketplaces, will undoubtedly complement NeoTaste’s vision and mission,” adds Sander.

NeoTaste introduced the app during the COVID lockdowns, initially launching in Hannover. Subscribers receive exclusive offers, and restaurants utilise NeoTaste for self-promotion, attracting new customers, and obtaining reviews.