Czech-Ukrainian hospitality startup Choice raises $2.5M led by J&T Ventures

Choice, a B2B SaaS platform for restaurants, has raised $2.5 million in a new investment round led by J&T Ventures. The funding will be used to scale the service in Central and Eastern Europe. The company told AIN.Capital the details.

About Choice

• Launched in 2021 by Ukrainian entrepreneurs Alex Ilyash and Volodymyr Olyanitsky, Choice develops an online B2B subscription-based service that allows restaurant to create a website and set up all necessary restaurant-related business tools on a single platform with joint administration: website, applications, online menus with QR payments, table reservations, a CRM system, and much more.
• Additionally, the platform can be integrated with popular POS systems and marketplaces such as Wolt, Bolt, Glovo, Foodora, and Uber Eats.

Choice was created with a mission to help restaurants digitize their customer base and increase customer retention and satisfaction. We can already see the positive impact of this digitization on the development of establishments in various European cities and how it allows us to improve their services,

Alex Ilyash, CEO and founder of Choice, Says.

• Choice works with more than 16,000 restaurants and has over 5,000 clients. In 2023, over 2 million orders totaling $42 million were made in Choice’s partner restaurants. Currently, the company’s MRR is over $150,000.

Investment details

• J&T Ventures, a Prague-based venture capital fund, led the current late-seed funding round. J&T is currently managing €50 million, with the tickets ranging from €500,000 to €2.5 million. The fund’s focus is on the seed to Series A startups from the CEE and SEE region.
• Previous investors, Reflex Capital and Presto Ventures, also joined the investment round. In 2022, the company received its seed investment from these investors, as well as Purple Ventures. As of December 2023, the company reached $2 million ARR.

The funding will be used to scale the service to four new markets in Central and Eastern Europe, and to continue growing in Poland, Czechia, Slovakia, Estonia, Latvia, and Ukraine.