Amsterdam-based Formitable, a platform to improve guest experience through loyalty and reservation solutions, and Zenchef, a Paris-based company that develops tech solutions for the restaurant industry, announced on Wednesday, January 25, that they have joined forces to become a European leader in restaurant tech.
Formitable is a growth platform. It helps restaurants to improve their guest experience and grow through loyalty and reservation solutions. The company claims to be the market leader in the Netherlands. It is also active throughout Europe, with a focus on strong growth in Germany, Sweden and Denmark. In 2021, the platform launched its ‘Table’ app. With over 150,000 users already, Table is becoming the leading restaurant app in the Netherlands and Belgium.
Zenchef was founded in 2010 by Xavier Zeitoun, Thomas Zeitoun and Julien Balmont. It supports the digitisation of the restaurant industry. Zenchef says businesses in 15+ countries trust it because of its owner-centric strategy, respect for personal data, and no commissions on reservations.
Since their inception, both companies have made it their mission to serve the industry by developing innovative software and solutions that assist restaurants in expanding sustainably and creating enduring bonds with their customers.
They have also been leading the industry’s digitalisation and have become important partners for restaurants. So far, more than 3,500 restaurants have joined Formitable, and 7,500 restaurants, including more than 200 Michelin-starred chefs, have joined Zenchef in more than 15 nations.
Creating number-one platform in Europe for restaurants and food lovers
Zenchef and Formitable provide B2B2C SaaS solutions to customers and restaurants with the goal of enhancing the visitor experience, boosting loyalty, and maximising restaurant productivity. With this partnership, both companies say they will be able to provide their customers with more innovative solutions and better value than ever before when they operate as a single organisation.
The companies mentioned in a statement that they will also improve their presence among restaurant owners and customers throughout Europe by utilising their complementary solutions, including platforms and mobile applications, as well as their technology and go-to-market capabilities.
Zenchef and Formitable aim to grow and become the largest organisation in Europe. With 11,000 restaurants across 30 countries in Europe, the businesses will be the market leader in France and the Netherlands. Additionally, the combination will enable Zenchef and Formitable to keep expanding in significant markets all over the continent.
CEO of Zenchef, Xavier Zeitoun, says, “By joining forces, we will be able to leverage our strengths and broaden our reach to become the number-one platform for restaurants and customers across Europe. We look forward to collaborating with Raymond and his team to further drive the digital transformation within the restaurant industry.”
Strengthening leadership position across Europe
Together, Zenchef and Formitable say they will aim to reach 35,000 restaurants throughout Europe by the end of 2025 by utilising their technology solutions, large networks, geographic reach, and smart acquisitions. This tactical goal will considerably strengthen the group’s status as the continent’s leader.
Raymond Wilders, CEO of Formitable, says, “The restaurant industry has evolved enormously since Covid. Restaurateurs all over the world now see the true potential of their business. That’s extremely fertile ground for software builders like Zenchef and Formitable. By joining forces we instantly deepen our footprint across Europe, innovate more effectively, and push the industry forward with more impact. We’re just at the beginning of helping restaurants grow sustainably — and we take pride in leading the way as one group in Europe.”
This combination is in line with both Zenchef and Formitable’s recent financing efforts to further accelerate the pace of their global expansion. In September 2022, PSG Equity invested in Zenchef, and Formitable welcomed Adriaan Mol as a new investor. When the two businesses are united, PSG Equity will own the majority of the stock in the merged entity.
For the time being, Zenchef and Formitable will maintain their own brands and autonomous operations. Additionally, Xavier Zeitoun and Raymond Wilders will continue to serve as the CEOs of Zenchef and Formitable respectively, with the shared goal of maintaining the top positions of both platforms in both their current and emerging markets.
