Amsterdam-based venture capital firm 819 Capital Partners announced that it has acquired and invested in CiMaas, a Dutch biotech company specialising in Natural Killer (NK) cell therapy aimed at advancing cancer treatment. 

Earlier, CiMaas had filed for bankruptcy, effective June 11, 2024, due to financial challenges that hindered its ability to fund necessary clinical studies, despite having proprietary feeder cell technology and an advanced NK cell expansion methodology.

Following the acquisition, CiMaas expressed commitment to continuing its mission of developing effective, low-side-effect cancer therapies. The company plans to focus on GMP-grade NK cells.

CiMaas mentions in a statement, “Thanks to an investment from 819 Evergreen Fund I, we are pleased to be able to continue working on our ambitions: cure cancer patients by making Natural Killer cells a reality. Our activities will be realised in Maastricht.”

On a mission to achieve a better cure for cancer

Founded in 2015 as a spin-off from Maastricht University and Maastricht University Medical Center+, CiMaas is focused on transforming cancer treatment with immunotherapies. 

These therapies aim to harness the body’s immune system to treat metastatic and late-stage cancers, addressing unmet needs in areas where current treatments are often ineffective, especially in advanced cases.

With a focus on safety, effectiveness, and minimising side effects, CiMaas looks to provide more robust and lasting solutions, offering new hope for patients with limited treatment options.

CiMaas is now offering (non-) GMP-grade feeder cells for collaborations, enabling the expansion of Natural Killer (NK) cells to produce sufficient quantities for scientific research and patient treatment.

The company is also working towards having clinical-grade NK cell production ready, with plans to initiate clinical research in collaboration with various partners.

Gerard Bos, CEO of CiMaas, says, “We are pleased to partner with 819 Capital Partners. This investment enables us to continue working on our ambitions: cure cancer patients by making Natural Killer cells a reality.”

“Our commitment to advancing cell-therapy opportunities for cancer treatment remains as strong as ever, and we are very motivated to continue our work in this vital field now In the coming period, we will further strengthen our team with highly skilled professionals.”

Brief about 819 Capital Partners

819 Capital Partners is an investment firm focused on venture capital, private equity, and corporate finance, with a mission to drive innovation and growth in key sectors. 

The firm prioritises healthcare, technology, and leisure, and recently launched the 819 Evergreen Fund to invest in early-stage deeptech ventures. It also supports growth through private equity investments in platform companies, using buy-and-build strategies. 

With over €60M in assets under management and 14 active portfolio companies generating €500M in revenues, the firm provides hands-on support to entrepreneurs to help realise their growth ambitions.

Speaking about the acquisition and investment in CiMaas, Thomas Smit, Director of 819 Capital Partners, says, “We are delighted to welcome CiMaas to 819 Evergreen Fund I. Our investment in CiMaas perfectly aligns with our vision to accelerate the growth of cutting-edge ventures.”

“CiMaas’ pioneering technology has great potential and could be a transformative breakthrough in cancer treatment in the future.”

Netherlands-based family-owned enterprise VANAD Group has acquired Utrecht’s sports tech company SciSports.

Arthur Nederlof of VANAD Group highlighted the company’s ties to sports, mentioning a past attempt to acquire Dutch football club ADO Den Haag. He says, “While that venture didn’t materialise, this acquisition aligns our passion for sports with our expertise in technology. It feels like a natural progression for us.”

Founded in 2013, SciSports is a sports analytics company specialising in football data intelligence. It provides actionable insights to help football organisations optimise performance and make informed decisions.

By leveraging artificial intelligence and machine learning, SciSports offers deep analyses for players, clubs, and federations, supporting strategic planning and team development. 

Currently operating in Europe and North America, the company aims to enhance the game on the pitch and enrich the experience of football fans globally.

Vincent van Renesse van Duivenbode will remain the CEO of SciSports following the acquisition. He says, “We’ve already achieved significant success in Europe, and this collaboration positions us to accelerate our expansion in the United States.”

Aim of the acquisition

SciSports plans to use VANAD Group’s financial resources and strategic expertise to improve its technology, grow its operations, and expand further in Europe and North America.

“This partnership allows us to deepen our existing relationships, invest in cutting-edge product innovation, and take our solutions to a broader audience,” says van Renesse van Duivenbode. “The North American market is a vital part of our growth strategy, and we are determined to establish a leading position with our products.”

Arthur Nederlof, CEO of VANAD Group, adds, “This acquisition represents an exciting step into the sports world, blending our IT expertise with a state-of-the-art software platform.”

VANAD Group’s founder, Ad Nederlof, brings extensive experience in the American market, including Silicon Valley, to support SciSports’ growth in the region. He is a seasoned entrepreneur who previously served as President and CEO of Genesys and led it through a $1.8B acquisition deal by Alcatel in 2000.

Brief about VANAD Group

VANAD Group is a family-owned company that operates internationally, offering innovative solutions in software, information, and communication technology. It focuses on improving customer experience and helping clients gain a competitive edge in their markets. 

With over 1,500 employees worldwide, VANAD Group includes several subsidiaries, such as VANAD Engage, Tangelo Software, Cybertwice, Early Friday, SciSports and QuandaGo.

XRHealth, a US-based Extended Reality therapy platform for healthcare, has acquired Amsterdam’s NeuroReality, including its flagship cognitive rehabilitation product “Koji’s Quest”, to strengthen its position in the extended reality (XR) therapeutic market.

The development adds to XRHealth’s growing portfolio, which includes a recent acquisition of Amelia Virtual Care, and enhances its offerings for physical, emotional, and cognitive rehabilitation through XR technology.

Eran Orr, XRHealth’s CEO, emphasised that the acquisition aligns with the company’s mission to create a comprehensive platform for patients and clinicians, combining AI-powered XR technology with clinical expertise.

XRHealth aims to transform healthcare by offering immersive, accessible digital health solutions across various therapeutic areas.

This development comes three months after NeuroReality announced that the company was winding down its business due to “unforeseen complications”. However, NeuroReality founder Faviola Dadis was optimistic about the future. Dadis mentions in a LinkedIn post, “Unforeseen complications beyond our control have forced us to make this difficult choice and we are looking into new ways to reboot and level up.”

Cognitive training in virtual reality

NeuroReality aims to transform cognitive training and rehabilitation through a blend of scientific research and gamification, aiming to make the process effective, engaging, and accessible for individuals with cognitive challenges. 

Its virtual reality (VR) games target key cognitive skills such as calculation, attention, memory, visuospatial abilities, executive functions, and reaction time.

Each game adapts to the user’s abilities, providing an enjoyable experience for individuals at all levels of cognitive function, including those with severe impairments. NeuroReality’s flagship product, “Koji’s Quest”, exemplifies this user-focused approach.

In collaboration with VU University Amsterdam and the Game Cella Lab, NeuroReality is conducting research that highlights the benefits of its VR solutions for stroke survivors.

Aim of the acquisition

With this acquisition, XRHealth enhances its tools for healthcare providers, offering more interactive ways to support patient recovery and improve health outcomes using VR and XR technology.

The inclusion of “Koji’s Quest” reinforces XRHealth’s dedication to improving accessibility and effectiveness in XR therapies, fostering advancements in digital healthcare.

Eran Orr, CEO of XRHealth, says, “The acquisition of NeuroReality and its flagship product, Koji’s Quest, represents another leap forward in our mission to provide the most comprehensive XR therapeutic platform available.”

“We are focused on creating a transformative experience for patients and clinicians alike, and Koji’s Quest will allow us to offer an even richer, more engaging set of tools for therapy and rehabilitation.”

Brief about XRHealth

XRHealth, a provider of AI-powered healthcare solutions, uses extended reality (XR) technology to improve patient care and rehabilitation. Its platform supports applications like physical therapy, cognitive rehabilitation, pain management, and mental health. 

The company operates clinics and collaborates with healthcare organisations worldwide, integrating XR therapies into diverse clinical settings. 

After acquiring Amelia Virtual Care, XRHealth expanded its mental health offerings, enhancing the accessibility and effectiveness of digital healthcare. Combining AI insights with clinical expertise, XRHealth aims to drive innovation in global healthcare.

Amsterdam’s online food delivery marketplace Just Eat Takeaway.com has announced the sale of its US-based subsidiary, Grubhub, to Wonder Group for an enterprise value of $650M (approximately €612.83M).

The deal, expected to conclude in Q1 2025, represents the latest strategic shift for Just Eat Takeaway.com as it realigns its focus on markets where it holds competitive strength.

Just Eat Takeaway.com is a global online food delivery company headquartered in Amsterdam. The platform connects consumers with 731,000 restaurant and retail partners, offering a wide range of choices.

The company claims to be one of the world’s leading food delivery marketplaces, operating in 20 countries, including Australia, Canada, Germany, the Netherlands, and the United States.

Deal structure and financial implications

The transaction includes Grubhub’s $500M in senior notes, and after routine adjustments, Just Eat Takeaway.com anticipates receiving up to $50M in net proceeds. 

The Amsterdam-headquartered food delivery giant expects the deal to bolster its cash flow and strengthen its capital position. 

Additionally, the sale of Grubhub marks the end of Just Eat Takeaway.com’s recent efforts to divest the US operation, which it acquired in 2020.

Jitse Groen, founder and CEO of Just Eat Takeaway.com, says, “The sale of Grubhub to Wonder will increase the cash generation capabilities of Just Eat Takeaway.com and will accelerate our growth.”

“This deal delivers the right home for Grubhub and its employees. I would like to thank everyone at Grubhub for their contributions to both Grubhub and the wider Just Eat Takeaway.com business.”

Wonder’s vision for Grubhub

Marc Lore founded Wonder to transform the food industry with a “super app” for mealtime, offering delivery-first dining and a new “Fast Fine” experience. 

Featuring top chefs like Bobby Flay and Jose Andres alongside celebrated restaurants such as Tejas Barbeque and Di Fara Pizza, Wonder allows customers to mix selections from various chefs and eateries in one order.

With this acquisition, Wonder Group aims to integrate Grubhub’s network of restaurant partners into its app. Wonder looks to enhance its customer offering with a more diverse selection.

Wonder founder, Marc Lore, says, “Wonder’s acquisition of Grubhub continues our mission to make great food more accessible. As we enhance our customer experience with selection, speed, and variety, we’re excited to soon offer a curated selection of Grubhub’s restaurant partners directly in the Wonder app, alongside our owned and operated restaurants and meal kits.”

“Bringing Wonder and Grubhub together is the next step in our vision to create the super app for meal time, re-envisioning the future of food delivery.”

Strategic context

The sale of Grubhub to Wonder allows Just Eat Takeaway.com to streamline its operations, concentrating resources on European and other key markets where it has a competitive advantage. 

Grubhub’s financials from 2023 highlight both its scale and cost challenges: it handled 237 million orders, generating a Gross Transaction Value (GTV) of €8.06B and an adjusted EBITDA of €94M, with a 1.2 per cent margin. However, it faced a negative free cash flow of €77M, and its share-based compensation costs represented 50 per cent of Just Eat Takeaway.com’s total in this area.

For Wonder, which recently acquired meal-kit provider Blue Apron, the purchase of Grubhub aligns with its goals to expand in the US food delivery sector and diversify its offerings.

Amsterdam-based Icecat, a provider of product content syndication, has acquired key assets from Decodata, an Amstelveen-based data solutions provider for the home and interior design industry.

This acquisition follows Decodata’s recent bankruptcy and includes its brand, domains, client and product data, and software. Icecat aims to integrate Decodata’s resources into its platform, entering the home and interior design market.

Martijn Hoogeveen, CEO of Icecat, says, “The home living sector is an exciting space, but we recognise it requires careful understanding. We’re giving ourselves time to explore with Decodata’s partners how best to serve this market.”

Decodata faced challenges with limited market response, which deterred further investment despite €2M in backing. “From our experience in developing new categories, we know one has to be prepared for the long haul as many chicken and egg issues have to be resolved,” says Hoogeveen.

Icecat will keep the Decodata brand to support a smooth transition and preserve market trust. The company does not expect this acquisition to significantly impact short-term growth.

Hoogeveen adds, “Brands, distributors, merchants, and marketplaces all have to be aligned on a standardised data model. And accept a third-party data source as an intermediary between all the trade partners. It takes perseverance, political skills and proven solutions to develop a successful new category in the product data business.”

Icecat claims to have a track record of success in new data categories, including technology, fashion, media & entertainment, consumer electronics, etc, positioning it to carry forward Decodata’s mission in the product data market.

What does Decodata offer?

Decodata is a B2B SaaS solution that enables retailers to reduce their time and costs by over 50 per cent. 

Integrating interior collections into online stores can be a lengthy and expensive task. To streamline this process, Decodata organises product specifications into a format that can be easily imported into online retailers’ websites. 

Decodata is an evolution of Cafedeco, a tech-driven platform in the home furnishings industry that connects a variety of stakeholders, including interior specialists, brands, architects, stylists, influencers, and both online and offline retailers and consumers. 

This platform serves as a hub for sharing ideas, inspiration, and practical solutions, helping customers easily find product availability. Decodata aims to disrupt the market by establishing structured systems for product data.

Brief about Icecat

Icecat is a global provider of product content syndication, helping businesses share accurate, engaging product information across multiple channels. 

Its services include content catalogues, e-commerce integrations, and product information management, supporting over 40,000 e-commerce companies. 

Icecat’s mission is to offer global brands localised information and seamless customer experiences. Its vision is to make all products accessible online, enhancing shopping experiences worldwide with cloud-based solutions for broad market reach.

London-based Everfield, a European long-term investor and growth accelerator, has acquired Frontu, a Lithuanian field service management software provider and KOST, a Graz-based food service specialist.

Frontu is Everfield’s first acquisition in Lithuania and its third in the Baltics. The London-based company expanded its presence in the German-speaking region by acquiring KOST – the second company to be acquired in Austria.

Simplifying management and daily maintenance

Founded in 2013, Frontu offers a field service management platform designed to help businesses streamline and digitise their service and maintenance operations.

The company’s cloud-based solution manages entire workflows, from customer service requests to work order completion. It focuses on supporting businesses in industries such as agriculture, material handling, construction, and forestry.

Frontu’s platform includes a mobile app for field service personnel and a web application for administration and management, available in over 20 languages. The platform offers product functionalities through APIs and integrations.

Hundreds of customers across 16 countries use the company’s software, including major heavy machinery OEM dealers like John Deere, JCB, Manitou, Hitachi, and New Holland.

Frontu will become part of Everfield’s growing ecosystem of European software businesses that provide critical support to B2B customers. The acquisition is anticipated to drive Frontu’s growth by expanding its team and customer base as it broadens its footprint across Europe.

Henning Schreiber of Everfield, says, “Frontu, Arūnas, and the team are a great addition to the Everfield ecosystem. As we build a workforce management vertical at Everfield, Frontu’s dedication to solving impactful challenges for their customers stood out, and we continue to support their growth.”

Arūnas Eitutis, CEO of Frontu, adds, “We’re just getting started. With Everfield by our side, we’re ready to expand our leadership in the growing Field Service Management market across Europe, especially in the industrial equipment sector. Frontu’s technician-first approach is already trusted by hundreds of customers, and we’re ready to take it even further.”

Eitutis will continue to lead the business and its team from its headquarters in Kaunas, Lithuania.

James Moore, Acquisitions Country Manager, UK&I, Everfield, says, “From our first meeting with Arūnas, we were excited by his bold vision for Frontu. The business has demonstrated exceptional growth over the past three years, and I look forward to seeing the business continue to excel within the Everfield ecosystem.”

“Frontu’s cutting-edge cloud solution is highly scalable and feature-rich, which has enabled the business to establish a leading position in the Baltics. We look forward to continuing to support their growth and expansion into more European markets.”

What does KOST offer?

Founded in 2000 by Michael Cikerle and Richard Huß, KOST has grown from an inventory management system into a software solution for large caterers, restauranteurs and healthcare institutions.

The company streamlines the entire supply chain, from ordering to serving, enhancing transparency and efficiency while helping reduce food waste in Germany Austria, and Switzerland.

Sebastian Holler, who focuses on the Austrian market for Everfield, says, “KOST can cover a broader range of customer requirements in the catering sector. This creates a win-win situation for all parties, sharing a wealth of experience and continuing to grow in Europe.”

Through continuous development in areas such as sales, marketing, and product development, KOST is able to attract new customers.

“We are pursuing a vertical approach and have strengthened our food & hospitality presence with this acquisition,” adds Oscar Koberling, Country Manager for Germany, Austria, and Switzerland at Everfield.

Michael Cikerle, Richard Huß, and Michael Schroller will remain with KOST as advisors, while Sascha Beyer, a long-time manager, will assume the role of Managing Director. Beyer will continue to lead the company alongside the existing staff.

Brief about Everfield

Everfield acquires, builds, and grows European vertical market and specialist software companies, providing them with the tools to enhance their success and support growth.

Since 2022, Everfield has acquired over 13 independently managed companies that develop mission-critical products.

The company uses a decentralised model that allows acquired companies to retain their teams, brand, and customer base. The acquisition of Frontu is Everfield’s 21st overall and its second in the field service management segment, following the acquisition of UK-based Depotnet in 2023.

Beverwijk-based Optima Cycles, a Dutch E-bike and electric cargo bike manufacturer, has announced the acquisition of Utrecht-based Dolly Bikes, a direct-to-consumer cargo bike brand.

This is Optima Cycles’ first strategic acquisition after Bolster Investment Partners’ investment in 2021. Mobis Corporate Finance served as the M&A advisor to Dolly Bikes.

Aim of the acquisition

This strategic move enhances Optima Cycles’ presence in the electric cargo bike market, offering new growth opportunities.

Dolly Bikes, known for its lightweight cargo bikes and customer-centric approach, enables Optima Cycles to expand its audience and strengthen its position in the e-cargo bike market, which is driven by increasing consumer demand and technological advancements.

The acquisition allows Optima to expand its audience and sales channels, aligning with its vision for sustainable mobility solutions.

Michiel Dreef, CEO of Optima Cycles, says, “We are very excited about the acquisition of Dolly Bikes. Their expertise and proven concept are an ideal complement to our portfolio. Together, we offer our customers an even wider range of innovative and sustainable mobility solutions while continuing to expand our leadership in the market.”

Daan Buddingh of Dolly Bikes, adds, “Dolly Cargo Bikes have won the hearts of many families with their distinctive cargo bikes and excellent service. We look forward to taking Dolly Bikes even further under the wings of Optima Cycles.”

Sustainable e-mobility solutions

Optima Cycles specialises in designing, producing, and distributing high-quality e-bikes, e-cargo bikes, and children’s balance bikes. The company focuses on designs to promote sustainable transportation by encouraging people to use bikes instead of cars. 

Optima Cycles manages the entire production process in-house, from design to assembly, ensuring high-quality control and agility. It does that from its factory in Beverwijk and a sister company, MM Bicycles, in Taiwan.

Brands like Dutch ID, Urban Arrow, and Lovens produce e-bikes by hand.

DataSnipper, an Amsterdam-based automation platform focused on audit and finance, has announced two key developments: the acquisition of UpLink, a secure cloud-based document request platform, and the launch of DocuMine, an AI-driven document validation tool. 

These initiatives aim to strengthen the Dutch company’s efforts to build an AI-powered audit ecosystem. 

The announcement follows the company’s $100M Series B funding, led by Index Ventures, which valued DataSnipper at $1B.

AI addressing the challenges in the global audit industry

The global audit industry faces challenges as auditors spend nearly 60 per cent of their time on document-heavy tasks, leading to reduced productivity, burnout, and a higher risk of errors, reports The Accountant.

DataSnipper’s new solutions, UpLink and DocuMine, aim to address these issues by automating document processing and data analysis using large language models (LLMs) and advanced algorithms. 

These tools transform unstructured data into real-time insights, helping auditors focus on strategic work while maintaining control. This shift is expected to enhance efficiency and reshape the future of audit and finance.

Vidya Peters, CEO of DataSnipper, says, “UpLink and DocuMine together, future-proof the audit value chain, from document intake to data analysis, offering time savings and deeper insights at every step – whether in the cloud-based Prepared by Client (PBC) portal, or in Excel. By introducing AI earlier in  the process, we give auditors time back to focus on more strategic work.”

What does UpLink offer?

Founded in 2022, UpLink is an AI document management platform designed for audit and accounting teams. It uses advanced machine learning to automate and speed up document reviews, cutting down the time for tasks that usually take hours or days. 

UpLink’s AI-powered portal helps with document collection, review, and testing by quickly extracting insights from large amounts of client documents. 

This allows auditors to search and query many documents in real-time, letting them focus on validating information instead of searching for it, which reduces manual work and improves accuracy.

Integrated into the DataSnipper ecosystem, UpLink creates a “seamless” workflow, enabling audit teams to manage the process efficiently as client documents are received.

Alex Maher, CEO of UpLink, says, “Generative AI is revolutionising the audit industry, enabling our clients to complete engagements twice as fast while achieving significantly higher-quality results and insights. Once teams experience the power of UpLink, there’s no turning back to the old ways of working.”

“Being part of DataSnipper’s ecosystem allows us to push the boundaries of AI-driven efficiency even further, delivering greater value to audit and finance professionals.”

DataSnipper launches new AI tool

Besides its acquisition of UpLink, DataSnipper is also launching DocuMine, an AI-powered tool that allows auditors to mine, analyse, and verify large volumes of documents in Microsoft Excel.

DocuMine automates the validation of critical data, enabling auditors to focus on higher-value tasks, such as strategic decision-making. By automating data verification, the tool shifts the workload from manually searching for information to quickly and accurately analysing audit evidence.

DataSnipper: Accelerating productivity for audit and finance

Founded in 2017, DataSnipper aims to transform data management in the audit and finance industry. The company offers an intelligent automation platform that enhances the quality and efficiency of audit processes. 

With over 500,000 users in more than 125 countries, the Dutch unicorn serves all four major global auditing firms: Deloitte, Ernst & Young (EY), KPMG, and PricewaterhouseCoopers.

DataSnipper CEO, Vidya Peters says, “Half the world is creating more data than ever before, half the world needs to verify it – that’s the premise of the entire economy. ‘DataSnipper lies at the intersection.”

“Using DataSnipper’s tool, auditors can automate away up to 90 per cent of menial tasks and boost business growth by cutting costs in half.”

Berlin-based PIABO Communications, a communications agency for innovative companies, has announced its acquisition of Munich’s PR and social media firm Startup Communication.

Founded in 2016, Startup Communication is a PR and online marketing agency specialising in supporting startups and fast-growing companies, particularly those aiming to enter the German market.

With a focus on the tech sector, the agency aims to deliver impactful communication strategies that resonate with target audiences. Startup Communication emphasises the importance of clear messaging, strong market launches, and thought leadership to help clients stay ahead of trends and stand out in competitive landscapes.

The agency’s approach combines pragmatism and innovation to ensure effective visibility and success.

Aim of the acquisition

This strategic move aims to expand PIABO’s presence in Munich, a European technology, media, and innovation hub.

The acquisition also strengthens PIABO’s expertise in serving high-growth tech companies and enhances collaboration with both local and international clients. PIABO’s clients include names such as Staffbase, Swappie, and Xentral.

The Munich team will grow by ten additional experts, forming a 15-person unit under the leadership of Carina Goldschmid, who will assume the role of Unit Director.

Tilo Bonow, founder and CEO of PIABO Communications, says, “The acquisition of Startup Communication is a strategic step to expand our presence in Munich. Munich is not only relevant due to its large number of technology companies, but also because of its role as an innovation and startup hub, as well as being home to innovative SMEs.”

“With a strong team on-site, we can respond more quickly to our clients’ needs and further solidify our position as market leader.”

Expansion in Munich

The integration of Startup Communication marks a key milestone for PIABO in strengthening its presence in Munich.

Carina Goldschmid, founder of Startup Communication, says, “By integrating with PIABO, new opportunities open up for both our clients and our team. PIABO is a leader in data-driven, 360° communications in the digital and technology sectors. Our network will be significantly strengthened by expanded resources and expertise.”

Daniela Harzer, MD & COO of PIABO Communications, adds, “We have come to know Carina as a fantastic entrepreneur who offers integrated communication with great passion and at a high level of quality.”

“We are also gaining a very experienced team of communication consultants, who bring a high level of expertise in the technology and digital sectors, further enriching PIABO in a sustainable way. The exchange of knowledge and experience will create synergies that foster innovation and creativity – key drivers for our continued growth trajectory.”

Brief about PIABO Communications

Founded in 2006 and led by CEO Tilo Bonow, PIABO is a full-service communications agency specialising in the digital economy. It provides international media visibility for clients across various sectors, including e-commerce, fintech, healthtech, AI, and greentech. 

The agency offers services such as public relations, social media management, brand strategy, content marketing, and influencer relations. PIABO has been a strategic partner for companies looking to achieve growth both locally and globally.

Swedish-based Parsly, an AI-driven platform that analyses purchasing data to help restaurants optimise operations, has been acquired by US-based Buyers Edge Platform, a technology firm specialising in the restaurant industry.

This acquisition is Buyers Edge Platform’s fifth in Europe this year. The US-based company aims to support Parsly’s development and facilitate its expansion into both Europe and the United States.

Helping restaurateurs save time and money

Founded in 2021 by Leo Kia and Ramzi Ferchichi, Parsly aims to assist restaurant owners in saving time and money by streamlining the purchasing process. 

The platform automates administrative tasks, including invoice management and monitoring fluctuating purchase prices, allowing restaurant owners to concentrate on their core business operations and passion.

Emerging during the pandemic, Parsly gained traction through referrals among restaurant owners. In its first year, the platform captured approximately one-third of its target market in Stockholm, focusing on restaurants with annual revenues between $0.5M and $5M.

Currently, Parsly services over 500 restaurants in Sweden and has analysed purchases totalling more than $140M since its inception.

Aim of the acquisition

Parsly enhances procurement management and improves profitability for small and medium-sized restaurants by delivering data-driven insights that are typically available only to larger chains. 

The acquisition by Buyers Edge Platform is anticipated to bolster these capabilities and facilitate further growth for Parsly in the competitive restaurant industry.

Founder Kia, says, “From the start, our goal has been to help restaurateurs achieve greater efficiency and profitability with an autonomous service that requires minimal effort – just a 10-minute onboarding. With Buyers Edge Platform’s reach and resources, what we have created can significantly expand its impact globally.”

Going forward, Parsly users will access software solutions and competitive pricing through Buyers Edge Platform’s global supplier network. “Parsly will add new functionality to our tech offerings and bolster our foothold in the European market,” says John Davie, CEO of Buyers Edge Platform.

Co-founder Ferchichi, says, “We are thrilled to join Buyers Edge Platform, whose values align with ours. Together, we are committed to creating a fair and transparent market for the entire industry – restaurants, producers and distributors.”

Brief about Buyers Edge Platform

Founded in 1998, Buyers Edge Platform transforms the food service industry through technology and partnerships, managing over $60B in aggregated spend volume.

It enhances cost transparency and data visibility for operators, distributors, and manufacturers, serving over 200,000 restaurant locations globally through its Digital Procurement Network, Fresh Solutions, Supply Chain Management, and Software.