Photo by Frederick Medina/Unsplash
After receiving a financing round of US$7.2 million last October, the Spanish startup Katoo announced its expansion in 2022, mentioning it would begin operating in European and Latin American countries.
Thus, the company that offers digital tools to facilitate communication between restaurants and their suppliers arrived in Colombia, it first stop in the region.
Katoo is backed by K-Fund, Expa (created by one of the co-founders of Uber, Garrett Camp), Otium Capital, Global Founders Capital, FJ Labs, Soma Capital, Flash Ventures and Jérémie Bordier, according to Crunchbase.
Katoo’s plans for Latin America
The company founded by current CEO Diogo Cunha and Karan Anand, who is CPO, is now in its third year in the market. It has a total of US$10.7 million in funding, which is helping to launch its operations in Colombia.
Katoo is an app that allows both suppliers and restaurants to control their orders, minimizing errors and streamlining processes. This way, according to MuyPymes, restaurants are able to save about five and a half hours a week when placing orders, and up to 6% in costs.
The platform also provides data and reports so that restaurants can identify what products they consume and improve their negotiations with their suppliers.
It is worth mentioning that Katoo also launched a simplified and centralized payment service in Europe. It wouldn’t be odd to see it in Colombia in the next few months.
Before arriving in Colombia, Katoo had annual transactions of US$250 million and more than 7,000 restaurants and suppliers, a figure it wants to surpass after 2022, its CEO told Forbes Colombia.
Thus, after starting operations in Bogota, Cali, Medellin, and the Caribbean Coast, Katoo already has its sights set on Chile, Peru, Mexico, Ecuador, and Argentina.
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