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Tebi, the new startup by Adyen’s departed co-founder, raises a fresh €30M from Alphabet’s CapitalG
- Arnout Schuijff, co-founder of Adyen, stepped down in 2021 to focus on his new startup Tebi, which raised €30M from Alphabet's CapitalG for its subscription-based platform for hospitality businesses.
- Tebi, based in Amsterdam, offers an all-in-one solution for managing payments, reservations, inventory, and more, aiming to differentiate with enterprise-level functionalities and pricing.
- Schuijff felt creating a product for SMBs was better done outside of Adyen, where he stayed in a CTO role after the 2018 IPO.
- Inspired by the coding during the Covid lockdown, Schuijff launched Tebi to simplify tax reporting for businesses, leveraging streaming technology for instant transaction updates.
- Schuijff, as Tebi's CEO, focuses on team building, strategy, and commercial aspects, aiming to contribute to society by helping local business owners.
- Tebi, led by Schuijff and a tech-heavy team, plans to expand in the Netherlands and the U.K. following a recent €30 million funding round from CapitalG and Index Ventures.
- Funding will support Tebi's international expansion and the addition of AI features to enhance the platform for better business management.
- CapitalG invested in Tebi due to European SMBs being underserved by expensive, bank-dominated payment solutions, aligning with the fund's interest in disruptive technology.
- Tebi's future vision includes developing an AI platform to improve business operations, with plans for a U.S. expansion after establishing a significant market presence in Europe.
- Expansion across Europe and the integration of AI features will be the focus for Tebi in the near future, with potential plans for a U.S. expansion down the line.
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