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Honei raises 1.4 Million € to revolutionize customer-restaurant relationships
The Spanish startup Honei, focused on digitizing and improving the hospitality sector, has raised €1.4 million in a funding round led by 4Founders Capital, with additional support from investors such as Abac Nest, Wayra, and Decelera. This capital injection will enable the company to scale its technology and strengthen its position in the national market.
Honei was founded to help the restaurant industry tackle operational and financial challenges brought on by the pandemic. It began by digitizing in-house ordering and payment processes, which account for 75% of the sector's revenue compared to 25% from delivery. This solution not only streamlined operations but also enabled the frictionless collection of essential customer data.
Additionally, the startup introduced marketing tools powered by artificial intelligence and personalized loyalty programs. "Our native integration with restaurant management systems has been key to removing entry barriers and maximizing the scalability of our solution," stated Honei CEO Borja in an interview with El Español.
Expansion and Results
In 2023, Honei completed a pre-seed funding round of €650,000, which allowed the company to quintuple its revenue within a year. With this new funding, Honei plans to handle over €3 million in monthly transactions by the end of 2024.
The adoption of QR code-based ordering and payment technology has been instrumental in this growth, enhancing both the customer experience and data collection for loyalty strategies.
New Technological Solutions
One of Honei's recent innovations is a smart payment terminal that centralizes transactions and captures key information at the point of sale. According to Honei, this device not only processes payments but also integrates with restaurant management systems, reducing cash register discrepancies and improving operational efficiency.
"With this terminal, we can identify customers through their card and link that information to their consumption history. This enables us to design unique loyalty and marketing strategies," explained Borja in the interview published by El Español.
The startup also helps restaurants cut financial costs by offering competitive payment processing rates through agreements with multiple banking institutions.
Consolidation in Spain
Honei is prioritizing the Spanish market, focusing particularly on Barcelona and Madrid, where it already has a strong presence. Its strategy includes expanding to other high-potential regions, creating a network effect that drives consumer adoption as more restaurants implement its technology.
"Our goal is to provide a unique experience that benefits both restaurants and customers, strengthening the hospitality ecosystem in Spain," concluded Borja.
With this combination of innovation and financial backing, Honei is positioning itself as a leader in transforming the relationship between restaurants and their customers.