Zak, a SaaS platform focused on the restaurant industry, announced a $15 million Series A round led by Tiger Global.
Other investors were Valor Capital, monashees, Base 10, and Canary. With this new capital, Zak will seek new business perspectives to continue helping restaurants with their digital transformation.
The São Paulo-based company helps optimize restaurants’ delivery operations and businesses to have full control of their customers’ information and data. Zak also receives payments for the restaurants, so that they can focus on their own growth and operations.
Zak currently has 300 clients and plans to serve over 1,000 restaurants in the third quarter of 2022. Almost all of Zak’s operations (90%) are located in São Paulo, but the company is present in 25 cities in Brazil.
The company expects to grow its operations in that country for at least the next two years, although it does not rule out its eventual expansion into Mexico.
SaaS and fintech to benefit restaurants
Zak’s value proposition is that it works as a SaaS company but it also has some fintech features. In addition to helping optimize a restaurant’s operations, by becoming its financial partner, Zak allows them to integrate their data with financial institutions to help them obtain credit.
It is a good moment for SaaS companies, as more and more businesses are looking for comprehensive cloud-based solutions. According to an IDC study, cloud infrastructure will grow 26.7% in Latin America this year.
In addition, the restaurant sector is at a particularly complex time after the pandemic lockdown. That’s why it’s important to offer them tools like Zak, so they can/ to focus on their growth efforts.