Fudo, an Argentinian startup offering a centralized software for restaurants, has received $7.5M through a seed round led by Andreessen Horowitz, Atlantico, and MAYA Capital. Other investors participating in the round were Collaborative Fund, Goodwater, and Latitud.
The startup caters to the underserved sector of independent restaurants. The software they built combines all of a restaurant’s operations into one platform. Through Fudo, restaurants can manage deliveries, check the inventory, set up tables, see purchases, get detailed analytics, and more.
They also ensured the software remained accessible for restaurants, as they only charge between $25 and $50 monthly.
According to Justo Ferraro, CEO of Fudo, 80% of restaurants in Latin America are independent. The pandemic deeply affected this sector: many restaurants had to close, and those still standing were forced to go almost entirely digital. Fudo was created to provide an accessible and easy solution for restaurants to digitalize their operations.
Ferraro shared the following:
“We have the unique opportunity in Latin America to become a one-stop shop because this is an area that is still very underserved (…) We believe that we can be the market standard, and that’s why we went through this round. We want to actually capture that opportunity,” Ferraro explained.
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