In a bold move to transform the way independent restaurants and cafes handle payments, Arnout Schuijff, one of the founders of Dutch fintech giant Adyen, is making waves with his new startup, Tebi. With a fresh round of funding and a mission to streamline finance for hospitality businesses, Tebi is set to become a significant player in the fintech landscape.
From Adyen to Tebi: A Vision Realized
The Journey Begins
After leaving Adyen, which boasts a staggering $50 billion valuation and is known for its role as a rival to Stripe, Schuijff embarked on a journey to create Tebi. For over a decade, he had envisioned a solution to the complex financial struggles faced by independent businesses. Now, with Tebi, he aims to simplify financial operations for restaurants, bars, and cafes.
A Solid Start
Tebi recently secured €20 million (approximately $21.6 million) in Series A funding from Index Ventures, a notable venture capital firm that has previously backed fintech success stories like Revolut and Wise. This funding will be crucial as Tebi seeks to expand its offerings and reach more businesses.
Simplifying Payments for Independent Businesses
Addressing the Challenges
The COVID-19 pandemic brought to light the vulnerabilities of the hospitality industry, prompting Schuijff to act. “Many of us didn’t realize how vital bars and cafes were until we couldn’t visit them during lockdowns,” he reflects. Tebi is designed to provide these establishments with the tools they need to thrive, especially during challenging times.
A Unique Approach
Tebi’s platform stands out in a crowded market filled with payment apps like Zettle, SumUp, and Dojo. Unlike its competitors, Tebi offers its services for free to businesses with lower revenues, making it accessible for small operators. This approach aligns with Schuijff’s vision of leveling the playing field for local businesses, allowing them to compete with larger entities.
An Innovative Governance Model
Employee Ownership
In a unique twist, Tebi has adopted a governance model where 15% of the company is owned by its employees. This not only fosters a sense of ownership but also aligns the team’s interests with the success of the company. Schuijff emphasizes that empowering employees is crucial for building a resilient and committed workforce.
Lessons from Adyen: A Strong Foundation
Leveraging Experience
Having been deeply involved in Adyen’s remarkable growth, Schuijff brings invaluable insights to Tebi. He and his co-founders, including fellow Adyen alum Rob Vonk, are dedicated to applying the lessons learned at Adyen to help small businesses flourish.
Building on Past Success
At Adyen, Schuijff contributed to developing a platform that attracted high-profile clients like Ikea and Nike. Now, he aims to equip small operators with the same level of sophistication in payment solutions. “We’re bringing all the lessons we learned at Adyen to give these businesses the tools they need to be sustainable,” he says.
Looking Ahead: Expansion Plans
Growing Beyond the Netherlands
With the new funding in place, Tebi plans to expand its reach beyond its home base in the Netherlands. The company aims to develop its product further and explore new markets, ensuring that more independent businesses can benefit from its innovative solutions.
A Bright Future for Hospitality
As the hospitality industry continues to recover, Tebi is poised to play a vital role in supporting local businesses. By providing accessible and user-friendly payment solutions, Schuijff and his team are not only investing in their company but also in the future of restaurants and cafes that bring life to communities.
Conclusion: A New Era for Payments
With Tebi, Arnout Schuijff is on a mission to reshape the financial landscape for independent restaurants and cafes. By leveraging his experience at Adyen, adopting a unique governance model, and prioritizing accessibility, Tebi is set to make a significant impact in the fintech sector. As the company prepares for expansion and product development, it represents a promising future for hospitality businesses everywhere.
I am Aparna Sahu
Investment Specialist and Financial Writer
With 2 years of experience in the financial sector, Aparna brings a wealth of knowledge and insight to Investor Welcome. As an accomplished author and investment specialist, Aparna has a passion for demystifying complex financial concepts and empowering investors with actionable strategies. She has been featured in relevant publications, if any, and is dedicated to providing clear, evidence-based analysis that helps clients make informed investment decisions. Aparna holds a relevant degree or certification and is committed to staying ahead of market trends to deliver the most up-to-date advice.