Active invests €1m in Restalo.es

The funding round, which came about after Active made direct contact with the company's founders, will help to finance Restalo's national and international expansion plans, as well as enabling it to enhance its technology.

Active was impressed by the founders' experience of the restaurant sector and of providing technological solutions to this market. It was also convinced by the product and internalisation strategy Restalo put forward, as well as by the positive feedback received from diners and restaurants with regards to the quality of the business's products.

The venture capital firm - which invested via Active Venture II, which held its first close on €25m late last year - now holds a minority stake in Restalo, with the remainder of the share capital in the hands of the management team.

Company
Barcelona-based Restalo.es is a restaurant guide that allows users to make reservations at eateries in Madrid and Barcelona, across the Spanish provinces, in London, Paris, Rome and Milan. It was founded in late 2008 and now generates a turnover of €14m.

The company has more than 2,000 venues in its bookings system and 8,000 in its guide. It employs 25 people.

People
Blair MacLaren, investment manager, led the deal on behalf of Active and joins the company's board.

Juan Otero is the CEO of Restalo.es.

Advisers
Equity – PricewaterhouseCoopers, Lucas Palomar (Legal).
Management – Fornes Prada Fernández, Simeón García Nieto (Legal).

 

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• Topics
• Southern Europe
• Expansion
• Consumer
• Spain